As women age, their health may become a primary concern as the likelihood of contracting a debilitating illness, such as breast cancer, increases with age in Washington. Estate planning may not on the forefront of one's mind in the wake of such a diagnosis. But it can have a positive impact on one's treatment options and serve to reduce stress and allow one to fully focus on one's treatment and recovery.
The prognosis for breast cancer patients has greatly improved in recent years and many are surviving to live normal lives. Treatment immediately following a diagnosis can be costly depending on one's insurance coverage. It is widely known that medical bills are one of the chief causes of financial problems in many households. Anticipating costs, adjusting budgets and revising financial plans can help address that issue.
Estate planning issues that may have to be addressed might include annual gifts to children and grandchildren and financial forecasts. In addition, it is important to have a designated power of attorney for financial and medical matters. A living will allows one to specify end-of-life medical decisions as well as a person who can speak on one's behalf in the event that one becomes physically or mentally incapacitated. Empowering a trusted person to make difficult decisions can reduce family tensions and squabbling at what could be a very difficult time.
When confronted with a life-threatening medical diagnosis in Washington, one should be able to focus all of one's energy on treatment and recovery. Addressing financial concerns and planning for different financial scenarios can relieve stress that would otherwise add to the stress caused by the disease. An estate planning professional can review one's financial situation and help one plan for various scenarios allowing the patient to fully focus on treatment and the prospect of returning to a normal life.