Secure Your Future
Make end-of-life decisions now — for your family’s sake
Oct 1, 2009 5:12 PM
The lies that have been generated in the battle for health care reform are staggering. We especially want to review a topic that we have written about over the years: What steps should a prudent person take in preparation for the inevitable end-of-life decisions? End-of-life issues involve legal matters, health-related matters and religious and ethical matters.
These are some of the issues that should be discussed with your loved ones when there are no emergencies looming. The health care detractors who equate the voluntary discussion of those issues with setting up a “death panel” are attempting to derail the passage of meaningful heath care reform.
Many of us — and probably, at some time in our life, all of us — have been or will be faced with having to make a decision on medical treatment for a sick loved one. Wouldn’t it be wonderful if we knew what treatment and how much treatment our loved one would prefer at this trying time? The health reform plan supported by President Obama would require Medicare to pay for a voluntary consultation with a doctor for those who choose to have an end-of-life planning session.
Let us review first two important health-related matters and then some others.
Advance Health Care Directives
Health care proxy (durable power of attorney for health care): Many health-related problems may leave you unable to make appropriate decisions about your care. In advance of any such situation, you should name a person who has the power to make health-related decisions in your place. You may accomplish this by completing a health care proxy.
You may name another person, typically a spouse, but it can be another family member, friend or anyone else you feel will see that your wishes and expectations are met. The person you name will have the authority to make decisions regarding artificial nutrition and hydration and any other measures that prolong life.
Living will: Help your proxy to make the decision you would have wanted by filing a living will. If your health deteriorates so that you enter a state of unawareness and cannot possibly make care decisions, you should not put your loved ones in the position of having to make a life-or-death decision on your behalf. In a living will, you give directions to either take advantage of every possible treatment available to keep you alive, or to allow you to die in a peaceful, pain-free, dignified manner. You can also leave instructions about organ donations. Whichever choices you make, it is grossly unfair to place this burden on your loved ones.
While we are addressing this uncomfortable but essential topic that you must talk to your loved one about, we will bring up other related topics that deserve your attention at this time.
Durable power of attorney
This is essential in order to deal with problems that can arise if a person becomes unable to conduct his or her own affairs. A durable power of attorney will survive incompetence. Your attorney-in-fact (the person you name in your power of attorney) will be able to continue to exercise the powers you designate in the durable power of attorney when you no longer can.
Since the attorney-in-fact has great powers, you should make sure you choose a person you completely trust. This power of attorney can be filed with TRS and other important institutions.
Your power of attorney expires upon your death. This important document should be set up with the advice and counsel of an attorney.
Will
Since a power of attorney expires at death, one should make sure that he or she has completed a will and other appropriate estate documents as advised by an attorney.
Without a will and/or other appropriate documents, the state will impose its own formula on distribution of the estate; this may result in serious problems for your loved ones.
Asset inventory
Do not force your survivors to try to reconstruct your estate with little or no information. You should prepare a list for your loved ones of all assets you own. This includes Teachers’ Retirement System benefits, bank accounts, mutual fund information, stock, certificates, insurance policies and others. Don’t forget debts you owe and monies owed to you.
We hope this article moves you to discuss the matters raised with your family and advisors. Actions you take on these matters when you are healthy will make your retirement a more secure and satisfying one.
If you need help in the above matters, you can contact the NYSUT Legal Service Plan and/or the Elder Law component of the plan at NYSUT Member Benefits at 1-800-626-5101.
Do you have on file at TRS an up-to-date designation of beneficiary plan for both the Qualified Pension Plan and, if you participate in it, the Tax-Deferred Annuity?
TRS offices will be closed on Oct. 12, Columbus Day.
“Secure your future” is compiled and written by Mel Aaronson, Sandra March and Mona Romain, teacher-members of the NYC Teachers’ Retirement Board. For further information on items discussed, call your UFT borough office or the TRS. BRONX: 1-718-379-6200; BROOKLYN: 1-718-852-4900; MANHATTAN: 1-212-598-6800; QUEENS: 1-718-275-4400; STATEN ISLAND: 1-718-605-1400; Teachers’ Retirement System: 1-888-8NYC-TRS (692-877), www.trs.nyc.ny.us.
