Many people believe that estate planning only involves issues relevant to elderly individuals, so they put this vital task off until they are older. However, those with high-risk occupations usually benefit from a plan regardless of age.
An untimely work-related accident could leave your family and assets vulnerable if you suffer disabling injuries or death. An estate plan that accounts for the possible consequences of a dangerous career can protect your autonomy and the people you love.
What are considered high-risk occupations?
Careers within the high-risk category are those with a higher-than-average risk of injury, illness or death. Such jobs can be dangerous for multiple reasons, such as exposure to hazardous materials or working at great heights.
Examples of risky Mississippi occupations include:
- Roofing and construction
- Professional health care
- Logging and agriculture
- Iron and steel working
Executive-level careers that involve frequent travel, especially to overseas locations, may also have a higher-than-average injury or death risk.
What estate planning documents should you consider?
Of course, you will want to create a will and keep it updated regularly. You may also want to consider adding advance medical directives, such as a living will and health care power of attorney, to your plan. They can help you state your wishes about your medical care and designate who can speak with your medical team if a workplace accident or illness incapacitates you.
You have many options for ensuring that your assets remain protected for future generations. One or more trusts could provide you with a way to transfer your wealth to your loved ones. Well-prepared trusts can also ease the probate process for your family if a work accident leads to your death.
Experienced legal guidance can help to ensure that your estate plan covers most or all possible outcomes after a work accident.