Powers of Attorney: One Stop Solution to Multiple ProblemsJuly 29, 2015
POAs Can Resolve Many Issues – Before They Occur
It is easy and understandable why people put off the drafting of a Will, Power of Attorney or Living Will, also called an Advance Directive. No one wants to think about or dwell on the limitations that aging or illness brings into our lives. We wish to remain independent as long as possible, even at the risk of injuring ourselves and being hospitalized as a result of our failure to accept our limitations, both physical and mental.
A sudden illness or temporary disability gives you a new founded appreciation of how a Power of Attorney can assist you in fulfilling your financial and business responsibilities, as well as to assist you and others in dealing with medical emergencies, where time is of the essence.
The Importance of Choosing an Agent
A meeting with your lawyer of choice can remedy the situation by creating a document naming someone or something to be the Agent (POA) with specific authority to act on your behalf. When spouses only name each other as POA’s and when they are both incapacitated or injured at the same time, it often becomes necessary to have the court involved and hold a hearing to appoint a representative to act. This representative is called a Guardian, and the Guardian serves as your fiduciary to act for you.
Avoid Court Involvement
The down side of Court involvement here is the expense of preparing and attending a hearing before the Orphans Court and also the expense of preparing and serving notices of the Guardianship to all the proper persons. When immediate decisions have to be made, the presentment of a fully executed POA takes minutes or hours, while Guardianship can require days and weeks before the authority is established to act. In addition, Guardianships can be challenged and become adversarial, which adds to the cost and the length of the proceeding.
Avoid Problems Later by Getting a POA Today
Take the time to get a POA which lessens the burden on you and your family and friends and gives you and your loved ones the security of being prepared.