Growing up, the Boy Scout motto, “be prepared” was drilled into me. Recently, I was unexpectedly called to take my mother to the emergency room which turned out to be a timely reminder of the importance of this simple phrase. While I have her Power of Attorney for Healthcare and Living Will in the Cloud, I realized I don’t carry hard copies of these essential documents. Not to mention I didn’t know what medications she takes or even the name and phone number of her doctor. After 40 years of being an Eagle Scout, I still needed the reminder to be prepared. Luckily, my mother was discharged after 8 tedious hours, but the experience stuck with me. I was rattled by my own lack of preparation. What if the situation were gravely serious? Would I be prepared to help my loved ones in the event of an emergency?
The next morning at my office, I printed copies of my mother’s Power of Attorney for Healthcare, and her Living Will, put them in an envelope, and placed them in the glove compartment of my car. Electronic copies of these documents are fine, but hospitals usually need printed copies. A friend also pointed out that if my mother had been admitted, I might have needed a second copy because once out of the ER, the process starts all over again. The ER is too busy to share those documents with other parts of the hospital as quickly as you will need them. Having a list of all my mother’s medications and allergies would have been helpful too. I am now keeping a list of her medications on my phone, along with her doctor’s name and number in my contacts.
My mother’s documents were prepared a number of years ago, now the Durable Power of Attorney for Healthcare and separate Living Will are combined into one document called the Advance Health Care Directive. The Advance Health Care Directive (ADHC) allows you to appoint someone (health care agent, attorney-in-fact, proxy, or surrogate) to make a decision for you if you cannot speak for yourself. This is recognized in every state but states also have their own forms, as laws vary from state to state.
The Advance Health Care Directive is just one of the Legal Documents Everyone Should Have prepared against future incapacity or medical emergency. You should also have a General Durable Power of Attorney for financial matters, a Will, to make clear your intentions around personal property and money, and Memorial Instructions so your family knows your desires for handling services and remembrances after your death. Remember in addition to making sure you have these up-to-date legal documents for yourself and your loved ones, it is equally important that other family members know where to find them. Where to Find My Important Papers is a great checklist to give family members so they can find everything they need whenever they might need it.
Small businesses employ close to half of all American workers. They create two thirds of the new jobs in the private sector, and those businesses reinvest nearly 70% of their revenue in their local communities, building and strengthening them. For the well-being of our communities, we need to sustain these small businesses. The Paycheck Protection Program, or PPP, is a vehicle that can help with that process.
What is the Paycheck Protection Program? The PPP is one of the Coronavirus Relief Options offered by the federal government. The goal of the program is to provide loans to help businesses retain their employees during the pandemic. These loans may be eligible to be forgiven. March 31, 2021 is the deadline to apply for the second round of loans. Does the program work? Is the money really going to small businesses? Check out the PPP Myth vs. Fact pdf here.
The PPP program offers two types of loans, First Draw Loans, for those who have not received a PPP loan before and Second Draw Loans, for businesses who have previously received loans and are eligible for another loan.
The Small Business Association provides a Lender Match that can help connect a business with a lender. Nearby lenders can also be viewed on a map. The SBA also notes that “All Second Draw PPP Loans will have the same terms regardless of lender or borrower.” Check the links and see if your small business is eligible today.