Using Powers of Attorney to Guard Against Incapacity
The most difficult questions, the ones that the state is most ill-equipped to handle, may be raised when people are most vulnerable, when they are no longer competent to make decisions for themselves.
At The Piatchek Law Firm, we draft durable powers of attorney for people who want to avoid forcing loved ones (or the courts) from having to make difficult financial choices and life-or-death health care decisions without any guidance. We also use powers of attorney as a simple and cost-effective alternative to formal guardianships and conservatorships. In any case, the important message is that powers of attorney are an essential estate planning tool that no one should be without.
What is a Power of Attorney?
A Power of Attorney documents gives someone else the power to do something for you. You could give power of attorney to someone to handle just about anything for you. There are many different types of Power of Attorney, both in subject matter, and in how the documents themselves operate.
Durable Power of Attorney. A Durable Power of attorney means that the Power of Attorney is still good and valid, even if you lose capacity. Most people want their Power of Attorney document to be "durable", and special language is typically required to be in the document, according to Missouri Law.
Immediate vs. Springing. Powers of attorney can "kick in" at different times. Either way, you make the decision to create and sign the power of attorney now. An Immediate Power of Attorney gives another person power to take action, as specified in the document, right now, as soon as you sign. A Springing Power of Attorney gives your appointee power if, and only if, some future event takes place. A typical scenario would be in the event of your later incapacity or incompetence, as determined by two physicians.
Financial vs. Health Care. Typically we separate out these two documents, one power of attorney for health care decisions, and one for financial decisions. We do this because we often find that our clients may want one set of persons controlling their finances, while they may want another, different set of folks contolling their health care decisions. Or they may want to use the same folks, but in a different order, in each of the documents.
For quality, affordable legal services in Springfield or southwest Missouri, call us at 417-882-5858 or, send us an e-mail to schedule your consultation.
Providing Guidance and Peace of Mind
Who will make crucial decisions about your health care and medical treatments if you are seriously injured in an auto accident? Who will manage your finances if an illness such as Alzheimer's or age-related dementia leaves you legally incompetent?
Because anything can happen on any given day, it is important to have a plan in place that addresses the legal contingencies of incapacity and incompetence. We can help you create a plan that's right for you, one that clearly expresses what your values and priorities are. Comprehensive estate planning will dictate what you want to have happen under any number of different circumstances. This way, the person or persons you've given that power to will know what to do if the time comes.
Springfield, Missouri, Power of Attorney Lawyer
Serving Your Family and Your Business
Make your wishes known and find peace of mind in the process as well. Talk to estates and trusts lawyer Joseph J. Piatchek about your legal needs today. To do that, simply call our offices directly at 417-882-5858 or contact us online.
We offer free initial consultations to estate planning clients and are available for evening and weekend appointments. We can also arrange a home visit if you are unable to travel to our offices.
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