HIGHLIGHTS OF DIRECTIVES PRESENTATION

1. Options Available Under State Law 

• Guardianship:  
  • The process to have an individual appointed by the court to make financial and/or health care decisions for another
  • Mandatory annual reports filed with the court
  • Expensive and time-consuming 
• Health Care Surrogacy:  
  • Priority under the law of who can make certain medical decisions for another 
  • This does not extend to end-of-life decisions or mental health decisions

 2.  Advance Directives: 

• Health Care Power of Attorney:  Designate who can manage your health care decisions during any period when you are unable to do so for yourself
• Living Will:  Designate your preferences for the use of life-sustaining measures if you are certified to be in an end-of-life medical situation
• Designate your preference for organ donation and your funeral preferences 

 3.  Financial Powers of Attorney

• Designate who can manage your financial, tax, and legal affairs during any period when you are unable to do so for yourself
• Do not make your agent’s authority effective upon certification of incapacity 
• Get the powers of attorney pre-approved by your financial institutions where you have assets 
• Maryland statutory power of attorney versus general durable power of attorney

4.  Designating the Right Fiduciary Agent

• Issues with designating co-agents
• Think about the individual with the right skill set for the role 

 5. Letters of Instruction/Memorandums

• Funeral instructions
• Asset roadmap
• Digital assets memorandum

Please check out www.bethanyum.org/giving/endowment for more information about planting that ‘tree’ today for Bethany’s future or talk to an Endowment Committee member.