• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Asset & Business Planning
    • Dental Practice Law
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Medicaid and Elder Law
    • SECURE Act
    • Special Needs Planning
    • Trust Administration
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veteran’s Benefits
  • Resources
    • DocuBank
    • Elder Law
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
      • Elder Law Resources
        • Carmel, Indiana Elder Resources
        • Fishers Indiana Elder Law Resources
        • Greenfield, Indiana Elder Law Resources
        • Greenwood Elder Resources
        • Indianapolis Elder Law Resources
        • Lawrence Elder Law Resources
        • Plainfield Elder Resources
        • Zionsville Elder Law Resources
    • Estate Planning
      • Estate Planning Checkup
      • Estate and Gift Tax Figures
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Asset Protection Planning
        • Business Succession Planning
      • Elder Abuse
      • Elder Law
        • Medicaid
        • Medicaid Planning
        • Planning for Long-Term Care
      • Estate Planning
        • Avoiding Estate Taxes
        • Frequently Asked Questions for Families Without an Estate Plan
        • LGBTQ Estate Planning
        • Women and the Need for Estate Planning
      • Financial Planning
      • Incapacity Planning
      • Legacy Wealth Planning
      • Pet Planning
      • Philanthropy in Your Estate Plan
      • Probate
      • Power of Attorney
      • Small Estate Administration
      • Trusts
        • Trust Administration
        • Trust Administration
        • Serving as Executor
      • Understanding Your Social Security Retirement Benefits
      • Wills
        • Contesting a Will
    • Newsletter
    • Pre Consultation Form
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss Of A Loved One
      • Probate Resources
        • Carmel, Indiana Probate Resources
        • Greenfield Probate
        • Greenwood Probate
        • Indianapolis Probate
        • Plainfield Probate
        • Indiana Probate
        • Zionsville Probate
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Areas We Serve
    • Boone County
      • Lebanon
      • Zionsville
    • Hamilton County
      • Carmel
      • Fishers
    • Hancock County
      • Greenfield
    • Hendricks County
      • Brownsburg
      • Plainfield
    • Johnson County
      • Franklin, Indiana
      • Greenwood
    • Marion County
      • Central Indiana
      • Indianapolis
  • Blog
  • Contact Us

Frank & Kraft, Attorneys at Law

Indianapolis Estate Planning Attorneys

CONNECT WITH US TODAY(317) 684-1100

Attend a Free Workshop
Home » Is Incapacity Planning Really Important?

Is Incapacity Planning Really Important?

November 20, 2014Incapacity Planning

Is Incapacity Planning Really Important?

You may hear about incapacity planning and assume that it is something that applies to others.  There will never be a time when you will become unable to handle your own affairs, right?  Incapacity is something that only happens to other people.

If you feel this way, you should understand the facts.

Longevity

Lifespans are getting longer as medical science improves.  In addition to the advances in science, people are becoming more aware of the value of healthy lifestyle choices.

A census is conducted every ten years, and the Census Bureau uses this data to identify certain trends.  Between the years 2000 and 2010, the ten-year age grouping comprised of people between 85 and 94 grew faster than any other.

The Social Security Administration has a life expectancy calculator on its website.  You plug in any age and gender, and the calculator will calculate the life expectancy of a person of that age.  Using this calculator, a man who is 65 today will probably live to the age of 84.  Women have longer lifespans than men, so the expectancy is greater for women.

When you put all this information together, you can see that it is very possible that you will live into your mid-eighties and perhaps beyond.

Alzheimer’s Disease

Alzheimer’s disease strikes a very significant percentage of people who reach an advanced age.  Around 45 percent of people who are at least 85 are suffering from the disease.

This disease causes dementia, and people with Alzheimer’s induced dementia are typically not going to be able to make sound decisions on their own.

Though Alzheimer’s disease is a huge threat, the disease is not the only cause of incapacity.  If you combine the life expectancy statistics with the Alzheimer’s numbers, you can see why incapacity planning is important.

Durable Powers of Attorney

A guardianship hearing could be convened if you do nothing to prepare for possible incapacity.  Under these circumstances, the state would choose a decision-maker to act on your behalf.  The choice would no longer be your own.

You can prevent a guardianship through the execution of legally binding documents called durable powers of attorney.  We are using the plural because you can create a durable financial power of attorney along with a durable health care power of attorney.

Your incapacity plan should also include a living will.  With this type of will you record your preferences regarding the use of life-sustaining measures like feeding tubes, artificial hydration, and mechanical respiration.

Incapacity Planning Consultation

Every well constructed estate plan should include an incapacity planning component.  If you are ready to take action, our firm can help.  We offer free consultations, and you can send us a message through this page to set up an appointment: Indianapolis IN Incapacity Planning.

  • Author
  • Recent Posts
Paul A. Kraft, Estate Planning Attorney
Paul A. Kraft, Estate Planning Attorney
Paul Kraft is Co-Founder and the senior Principal of Frank & Kraft, one of the leading law firms in Indiana in the area of estate planning as well as business and tax planning.

Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
Paul A. Kraft, Estate Planning Attorney
Latest posts by Paul A. Kraft, Estate Planning Attorney (see all)
  • Updated Federal Gift and Estate Tax Figures for 2023 - January 26, 2023
  • Why Estate Planning Is Important for Multi-National Couples - January 24, 2023
  • When Do I Need to Update a Trust Agreement? - January 19, 2023

Other Articles You May Find Useful

Indianapolis elder law attorneys
5 Important Steps to Take after an Alzheimer’s Diagnosis
Indianapolis incapacity planning
Are You Prepared for the Possibility of Your Own Incapacity?
Indianapolis incapacity planning attorney
Who Decides If Someone Is Incapacitated?
Carmel incapacity planning attorney
Are There Alternatives for Managing Property When Someone becomes Incapacitated?
End-of-life concerns need to be addressed in a responsible way, long before patients are no longer able to communicate their wishes. A hospice planning attorney can be an invaluable resource for ensuring that you’re properly prepared for all your hospice-related challenges.
How a Hospice Planning Attorney Can Help with Hospice Care
Your estate plan isn’t really finished until you’ve also protected yourself against possible incapacitation in the future. Find out why incapacity planning is such an essential protection for every individual and family.
Five Reasons You Need Incapacity Planning

Primary Sidebar

Frank & Kraft, Attorneys at Law

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube

Blog Subscription

Where We Are

Frank & Kraft Attorneys at Law
135 N. Pennsylvania Street Suite 1100
Indianapolis, IN 46204-2485
Phone: (317) 684-1100
Fax: (317) 684-6111

See Larger MapGet directions

Office Hours

Monday8:00 AM - 5:00 PM
Tuesday8:00 AM - 5:00 PM
Wednesday8:00 AM - 5:00 PM
Thursday8:00 AM - 5:00 PM
Friday8:00 AM - 5:00 PM

Map

frankkraft_sidbr_map

Footer

  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
footer-logo

Frank & Kraft Attorneys at Law
Attorney Advertisement

© 2023 American Academy of Estate Planning Attorneys, Inc.

© 2023 · American Academy of Estate Planning Attorneys, Inc. | Disclaimer | Privacy Policy | Sitemap | Contact Us