What Happens When Cancer Changes Your Estate Plan

BY: Law Offices of Andrew Cohen | November 12, 2020

Making plans for the future, for you and your family’s future, is incredibly important. This should include making various plans for your estate, such as drafting a trust, establishing powers of attorney, plans for health decision, taking care of the kids, providing for loved ones, and much more. At the Law Offices of Andrew Cohen, we strongly recommend that most California adults have a current Trust that ensures their wishes are carried out after their passing and during times of incapacity. This is often done with thoughts toward the future, perhaps with a vague uneasiness of ‘what if something bad happens now?’ Well, what happens if a worrying medical diagnosis does arise seemingly out of the blue?

A Cancer Diagnosis Changes Future Plans

A cancer diagnosis is a scary and uncertain experience. Cancer impacts not just the patient, but their entire family and other loved ones. I’ve gone through this situation in my own life. A person’s financial security may be dramatically affected, or even destroyed. Recognizing these challenges, it is important for estate planning attorneys to educate both the cancer patients and their loved ones about steps that can be taken to preserve and gain control over aspects of their life.

Estate planning for cancer patients, or those with other serious illnesses, is similar to the process of planning that everybody else experiences, but there may be added urgency. Such planning may require addressing difficult issues such:

  • Coordinating investments
  • Handling life insurance issues
  • Emergency and disability planning
  • Retirement and other planning needs
  • Completion of legal documents

At the Law Offices of Andrew Cohen, we understand that no two cancer diagnoses are alike. In some cases, the prognosis may be very positive and the cancer may be completely treatable. However, others may be have with advanced-stage illness. In these situations, plans may need to coalesce much more quickly.

When working to design estate plans and to draft a trust-centered plan, or a plan focused around a last will and testament, we have learned that it is important to be flexible and to understand that circumstances may change. Our team will not only help you finalize a trust or will, but we will also help with:

  • Power of attorney issues
  • Health care proxy
  • Living wills
  • Guardianship for children
  • Separate property trusts
  • Insurance coverage
  • Beneficiary designations
  • …and more

Contact Us For A Free Consultation Of Your Case Today

If you or somebody you love has been diagnosed with cancer, we understand that this is an incredibly challenging time. While we know that you will have many things to deal with, including treatment and recovery, we want you to consider updating your current plans, or putting a new plan in place, as soon as possible. At the Law Offices of Andrew Cohen, our compassionate and knowledgeable team is ready to help you. When you need a Santa Clarita estate planning attorney who will respect your family and your wishes, you can contact us for a free consultation of your case by clicking here or calling 661-481-0100.

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