The Cancer Plan: Estate Planning for the Recently Diagnosed
If you’ve been recently diagnosed with cancer, your life has been turned upside down. You have treatments and medical evaluations and lots of resting to do. There is so much to consume your mind and thoughts. Today we’re here to help you take a giant “what if” off your mind and give you a little peace.
Often when a person is diagnosed with cancer, they spiral immediately to the worst case scenario. That is normal. When faced with the C word our thoughts can automatically jump to the very worst. But just because our mind jumps there doesn’t mean it will happen!
Cancer isn’t the reason you need an estate plan.
The truth of the matter is that everyone needs an estate plan. The reason you need an estate plan is not your cancer diagnosis. The reason is that we all will die at some point and we all should have our affairs in order because of this.
Maybe your cancer diagnosis has you facing your mortality in a way you never have before, but that isn’t necessarily a bad thing! Living in awareness of the fact that life is short helps us enjoy the little and big moments we get every single day.
How an Estate Plan Can Help You in Your Cancer Fight
Putting a solid estate plan in place can help you in your fight against cancer. Are you wondering how this could be? Studies over the years have shown that cancer patients who positively focus on beating cancer have higher success rates. So, when you take a major concern like “what will happen to my loved ones if I don’t beat this” off of the table and out of your mind, it frees your brain up to be positive.
Planning ahead and having everything in place does not jinx your survival chances. Instead it flushes out those stressors because you’ve got it all figured out.
Let’s look briefly at each component of an estate plan and why each piece should be something you consider and implement.
Will – this document will allow you to distribute your assets through the probate process— making sure each asset goes to the beneficiaries you desire. It also allows you to make a plan for who would become your minor child’s guardian. The reason this document is so important is that when you get it set up you can have peace of mind about what will happen to your loved ones if you die.
Trust – this document can be used with a Will. It allows your assets to pass as you see fit without the hassle of probate. It also begins working for you while you are alive. This document brings peace of mind because you know your wishes are clear and your loved ones don’t have to go through the mind numbing and horribly long probate process.
Standby Guardian – this document allows you to name a person who can act as a legal guardian during your lifetime if you’re not able to. So, say you have to have surgery or chemo treatments and need a friend to do all the school drop-offs and pick-ups. This document allows them to legally do that. But say you were in surgery and your kid broke their arm at recess? What happens then? This document also allows your standby guardian to legally make medical decisions on your behalf while you’re incapacitated.
Power of Attorney – this allows you to name someone who can make business and legal decisions for you. Does keeping on top of bills and bookkeeping during your cancer treatments bring added stress? You can name a friend, relative, or professional service to do this for you, and they can legally cut checks for you.
Advance Directive – this document allows you to name someone you trust to make medical decisions for you if you are unable to. But it also allows you to make certain kinds of medical decisions in advance. Maybe you want certain treatments like life support. Are your loved ones aware of these medical choices? This document allows you to say “yes” to things you may want and “no” to things you may not want. We feel that this document is non-negotiable for everyone, but especially for those with recent serious diagnoses.
As you can see, planning ahead and getting this all buttoned up can alleviate a ton of stress. This is because once the plan is in place, these “what if” questions already have answers laid out!
Cancer is a big, scary word and it disrupts your life. And cancer treatment is a journey that deserves all of your focus and attention. You deserve to put every ounce of brainpower into fighting cancer, not worrying about what will happen if… Are you ready to fight and stop worrying about all the what ifs? Call us at (404) 736-6066 or visit our website to schedule a consultation about how we can give you peace of mind while you crush this cancer.