Imagine if tomorrow you were in a car accident or overcome by an illness and unable to communicate… What would your family do? I have sat on the edge of too many hospital and/or rehab beds dealing with distraught family members. You must have someone (with alternates) to call your insurance company, write checks, pay bills or communicate on your behalf. This must be done BEFORE an illness or injury! Everyone over 18 years old must designate their “Agents” to act on their behalf.
Many of my new clients initially believe prior to our first meeting that they may only need a “simple will,” without further Estate Planning.
But– Your biggest concern should not be what your family will do when you pass away;
but what your family can do for you RIGHT NOW!
The top 10 reasons why everyone needs an attorney-prepared POA!
- Allows your Agent to speak for you if you cannot speak yourself.
- Avoids the necessity of a Court-Appointment guardianship.
- Provides immediate access to critical assets.
- Allows your family to ensure you are receiving the proper care.
- Allows your Agent to make sure your bills are being paid and to pay them if not.
- Protects you and your family from claims of financial abuse.
- Prevents questions about intent.
- Allows your agents to talk to others for you! Banks, professionals, insurances, deeds, etc…
- Allows Agents to help you plan and make you eligible for public benefits if necessary.
- Prevents delays in financial and asset protection planning
To Read another recent Blog Post about Durable Powers of Attorney: