• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • Communities We Serve
      • Elizabethtown
      • Frankfort
      • Jeffersontown
      • Matthews
      • Middletown
      • Prospect
    • Meet Our Team
  • Services
    • Asset & Business Planning
    • Elder Law & Medicaid Planning
    • Estate and Gift Tax Figures
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • IRA & Retirement Planning
    • Legacy Planning Services
    • LGBTQ Estate Planning
    • Loss of a Loved One
    • Power of Attorney
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
    • Young Families
  • Resources
    • Client Resources
      • Business Succession Planning Checklist
      • Estate Planning Seminars
      • Estate Planning Worksheet
      • Is Your Estate Plan Outdated?
      • Kentucky Retirement Resources
      • Louisville Elder Law Resources
      • Louisville Probate Resources
      • Presentations
    • Elder Law Reports
    • Finding the Right Estate Planning Firm
    • Frequently Asked Questions
      • Estate Planning Frequently Asked Questions
      • LGBTQ Frequently Asked Questions
    • Newsletters
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning For Niches
      • Trust Administration
  • Blog
  • Contact Us

Gersh Law Offices, P.S.C. | Louisville, KY

Estate Planning | Medicaid | VA

Connect with us today(502) 423-7023

Attend a Free Seminar
Home / Estate Planning / You Never Know: Planning for the Unexpected Death

You Never Know: Planning for the Unexpected Death

August 9, 2018Elder Law, Estate Planning, Legal Education, LGBTQ Planning, Probate, Special Needs Planning, Trust Administration & Probate

This article examines the unexpected death of two people who died from doing very typical things. Risks might be re around the corner, even in seemingly safe endeavors, so you should be prepared. The article looks at the elements of a basic plan.

Ordinary Day Scenarios

On a hot summer day, few things are more fun than swimming. Hannah Collins went swimming on such a day in the Edisto river near Charleston, South Carolina. She swam often and was nicknamed “river rat” by her father. But, while swimming one summer day, she became infected by an unseen danger, a rare amoeba, Naegleria fowleri, which is known as the “brain-eating amoeba.” Less than two weeks later, even after the best medical care, Hannah’s unexpected death came as a surprise. Here’s a link to more information.

Like Hannah, Caleb Schwab was seeking some innocent summer fun. He went to an amusement park in Kansas City, expecting a day of fun and thrills. The amusement park, Schlitterbahn, had recently opened the world’s tallest water slide, Verruckt, and he wanted to experience it. However, unbeknownst to Caleb, the water slide was improperly designed. When descending the 15-story drop, Caleb was decapitated by the ride. His unexpected death was a shock to all.  Here is a link to more information.

There are few certainties in life. One of the certainties is death. We all know we are going to die…at least we know this in theory. We don’t know when. We don’t know how. But we know that each of us will face death at some point. It is especially unexpected when we are anticipating a fun-filled day, like Hannah or Caleb.

Since none of us knows when tragedy might strike, it’s best to have a plan in place, in case the unexpected happens.

A basic plan includes:

  • A Will. A Will disposes of your property at your death through a court process called “probate.” Without a Will, your assets are divvied up among your blood relatives as determined by your state legislature. With a Will, you can alter this distribution and provide protections for your loved ones from their creditors, divorce, or even their own mismanagement. This document is the place you nominate guardians for your minor children. But, a Will only is effective at death and requires the court process, which may be more or less cumbersome depending on your state and the nature and extent of assets involved.
  • A Property Power of Attorney. A Property Power of Attorney allows you to designate someone to act for you regarding your property during your life. It allows someone to manage assets in your individual name when you are unable to make the decisions yourself.
  • A Healthcare Power of Attorney. This power designates an agent to make healthcare decisions for you when you are unable to make them for yourself.
  • A Health Insurance Portability and Accountability Act (HIPAA) Authorization. This authorization designates who can access your protected health information. Without such a document, a hospital or other provider might not be able to tell your loved ones any information about your care, or even that you are in their care.
  • A Revocable Living Trust. A trust holds title to property during lifetime. At your death or incapacity, your successor trustee manages the assets according to your instructions in the trust. Since the trust continues at your death, no probate process is required. Depending upon the state, this may save significant time and money and provide privacy which may be lost with probate. The trust may provide all the protections which a Will could provide, including protection from the beneficiary’s divorce, creditors, and mismanagement.

Prepare at least a basic plan. That way, regardless of what dangers lurk around the corner, whether expected or unexpected, you’ll be prepared.

Stephen C. Hartnett, J.D., LL.M.
Director of Education
American Academy of Estate Planning Attorneys, Inc.
9444 Balboa Avenue, Suite 300
San Diego, California 92123
Phone: (858) 453-2128
www.aaepa.com

Article as seen on AAEPA. This is an advertisement.

  • Author
  • Recent Posts
Cochrangersh Law Offices
Cochrangersh Law Offices
Cochrangersh Law Offices, P.S.C., a law firm focused mainly on estate planning and administration, as well as elder law matters such as subjection for Medicaid and veterans’ benefits.
Cochrangersh Law Offices
Latest posts by Cochrangersh Law Offices (see all)
  • Leaving Assets Can Be Tricky – Part 3 - October 15, 2020
  • Leaving Assets Can Be Tricky – Part 2 - October 8, 2020
  • Leaving Assets Can Be Tricky - October 1, 2020

Other Articles You May Find Useful

Sign your Financial Power of Attorney and Healthcare Power of Attorney
The Basics: “HIPAA” Powers
Sign your Financial Power of Attorney and Healthcare Power of Attorney
The Basics: Power of Attorney for Healthcare
Beneficiary and Related terms
Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
nursing home lawyers helping hands
Nursing Home Lawyers Discuss the Benefits of Planning
Lucky Winners need a good Estate Plan
Planning for Lottery Winners, Part 1 of 2
Beneficiary Designation, Death, Life Insurance
Estate Planning Considerations – Beneficiary Designations

Primary Sidebar

FREE ESTATE PLANNING WORKSHEET

Download our free "Protecting the Future" worksheet to get started!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • Twitter
  • Linkedin

Testimonials

5 star
Client Review
September 18, 2020
    

I have been a client of Cochran Gersh Law Offices since 2005. I can’t say enough good things about them. Absolutely first rate! Thanks to the team, my estate and trusts are set up and my family won’t have to deal with an unorganized mess when I am gone.

default image
– JIM

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Where We Are

Cochran Gersh Law Office
916 Lilly Creek Road, Suite 102
Louisville, KY 40243
Phone: (502) 423-7023
Fax: (502) 423-1108

See Larger Map Get Directions

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM

Map

map for Cochrangersh Law Offices, P.S.C. office

Footer

  • Privacy Policy
  • Sitemap
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkedin
footer-logo

Cochran Gersh Law Office
All Right Reseved.

Attorney Advertisement

© 2023 American Academy of Estate Planning Attorneys, Inc.