What is a Letter of Intent?
A Letter of Intent is a document used in Nevada Disability Planning Law which outlines the wishes of a person with a disability regarding who they want to make financial and medical decisions for them when they become incapacitated. It also outlines how they want their assets distributed and who should receive their property. This document is important to ensure that the person’s wishes are respected should they be unable to make decisions for themselves. The document must be signed and dated by the person with the disability and witnessed by two adults. They must also be 18 years of age or older in order to create a legally binding document. The document should include the name and contact information of the person the plan maker wishes to designate as their guardian, their financial and medical decision maker, and beneficiaries of their estate in the event of their death. The Letter of Intent should be updated regularly and reviewed by the person with the disability and their lawyer. This ensures that the plan remains up to date with the person’s wishes as their situation changes. The document should also be stored in a safe place such as a safety deposit box to ensure that it is available in the event that the person becomes incapacitated. If done correctly, a Letter of Intent can help protect the rights of a person with a disability and ensure that their wishes are respected in the event of their incapacitation. It is an important document for those living with a disability in Nevada to have.
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