Many fear the mystifying “Power of Attorney” and wait until it is too late to give a loved one the power and authority to act on their behalf when they become incapacitated. In reality, the greater fear should be the situation where no Power or Attorney is in place before a loved one becomes incapacitated and unable to make rational decisions on their own.
As an example, if a husband becomes mentally incapacitated before giving Power of Attorney to his beloved wife, the wife may eventually need to seek guardianship and conservatorship over her husband to preserve his life. Establishing a Guardianship and Conservatorship can be twenty times more expensive than a Power of Attorney!
The Power of Attorney needed to provide for the unwelcome situation of incapacity is the Durable Power of Attorney for Health Care. There are also other ways to give authority to a loved one to act on your behalf such as a General Durable Power of Attorney, a Limited Power of Attorney, and a Power of Attorney for Child Care.
The General Durable Power of Attorney can give authority to a loved one to pay your bills when you are out of the country on vacation. The Limited Power of Attorney allows a loved one to act on your behalf for the limited purpose and time frame that you specify in the document. The Power of Attorney for Child Care allows your chosen caretaker of your children to do for them what you would do while you are absent.
And to demystify one more fear, all Power of Attorney documents can be revoked while you are still of sound mind. So don’t let fear keep you from providing for yourself and your loved ones in important areas of your life.
If you would like to learn more about the mystifying Power of Attorney, you are invited to our Estate Planning Workshop on September 18, 2014 at 7pm.
Click the following link to visit our workshop page
The workshop will be presented by Walker Law Office and held at the Vendome Events Center in Weiser. The Workshop is FREE and those who attend will receive a Free Power of Attorney and Health Care Directive. Bring a friend or more importantly your parents and come learn about how to plan your estate before it’s too late.
Click the following link to see our flyer for the Free Workshop: Life Planning Workshop – September 18, 2014