Powers of Attorney
A Power of Attorney is a document that can ensure that a person’s financial decision-making assistance needs will be met in the event that they are ever rendered unable to make such decisions by and for themselves and/or mentally and cognitively incapacitated. Not only does this ensure that a person’s decision-making assistance needs will be met if they were ever rendered in such a state, it can also help to prevent one from becoming the subject of a guardianship proceeding, which can end up being costly for all involved (including, most frequently, the subject of the proceeding his or herself when the Court determines that the appointment of a Guardian is necessary).
A valid, duly-executed and comprehensive Power of Attorney, along with a Health Care Proxy and Living Will, are of great importance in ensuring that your needs will be met and your wishes honored if you are ever rendered in need of assistance in handling your own personal and/or financial affairs. One of the many tremendous benefits of having such “advance directives” in place is that they are a cheaper, more efficient and streamlined means through which your needs can be met as compared to a costly and potentially contested guardianship proceeding, and the burden of any person utilizing these documents for your benefit is significantly less than those imposed upon a Court-appointed Guardian.