Planning for the Future at Any Age

Looking to the future can be exciting, and daunting, especially as it relates to planning for the unexpected. Having clear plans in place is important as a way for you to ensure your desires are heard, and it may help prevent future challenges for your family.

Who should plan for the future?

• If you have a family, 
• If you have any financial or physical assets, 
• If you may ever be a patient (which means all of us at some point in time), 

You need a plan, no matter your age.

In planning ahead, you can make choices based on your own values, beliefs and desires. It helps you manage what happens to you and your estate and establishes someone you trust to carry out your plan.

Common tools you should know

A will is a legal document that directs how you want your affairs to be handled after death, such as how your assets will be distributed, who is responsible for settling your estate, and who you want to appoint as legal guardian of minor children if a parent or guardian is unable to take custody. 

A durable power of attorney (DPOA) is a legal document that is only in effect while you are living. With a DPOA, you can grant someone the power and authority to act on your behalf if you become unable to do so. It’s important you select someone you trust, but you can change your DPOA at any time.

An advance directive, such as a healthcare power of attorney or a living will, can include instructions about your future medical care should you become unable to make decisions for yourself; for example, if you are unconscious or unable to communicate. With a healthcare power of attorney, you can designate a person to make medical decisions on your behalf. It is important that this person understands your wishes.

A living will allows you to specify ahead of time treatments you may or may not want. Living wills are useful for people who want to determine the type of treatment they do not want. You can use a living to document your wish to die at home, be an organ donor, etc. 

It’s important to know that you can revise your advance directives as often as you want. Discuss these decisions—and any changes—with your family, caregivers and healthcare providers. Be sure to keep these important documents up-to-date and located in a safe, but easily accessible, place. And ask your healthcare provider to enter your advance directive into your medical record. 

For more information on planning for the future, view the Humana Neighborhood Center class, “Take control of your legacy and financial future: Understanding wills, trusts and advance directives.” Additional information is available from the American Bar Association and the National Institute on Aging.

This information is provided for educational purposes only. It is not to be used for medical or legal advice. Consult your doctor or attorney if you have questions or concerns. Because state laws vary, it is important to check with a lawyer licensed in your state regarding any of the documents mentioned above.