An Effective Power Of Attorney

763 WordsOct 14, 20154 Pages
#1 Ineffective Power of Attorney Whether one has an effective Durable Power of Attorney document can mean the difference between having a trusted person handle all of your affairs, in a manner that you would yourself if you could, versus having to endure a costly Guardianship proceeding. Therefore, having an effective power of attorney can be crucial. Keep in mind that all Power of Attorney documents are not the same. In fact, even if you have a Durable Power of Attorney, you will want to make sure it has sufficient language so that your Agent can indeed administer all your affairs without the need of judicial intervention. In other words, by having a custom Power of Attorney document that meets all your needs, you could save thousands of dollars by avoiding Guardianship Court. #2 No Backup So you have found your trusted person to act for you if you are unable. Perhaps you have chosen your spouse, an adult child, maybe a dear friend. Question now is: What happens if that person becomes incapable of acting for you in your time of need. For example, What if the person you named has died or is incapacitated him or herself? The question will then be: Do you have a backup were the first person you named is unable to act for you? For couples, they will often name a trusted adult child as a backup. In the context of not having a backup Power of Attorney, a Guardianship may be required. In the context of medical directives, you may be at the mercy of the
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