All it takes is one accident or medical emergency while out-of-state in Arizona or Florida this winter, for powers of attorney and living wills to pay for themselves.
If someone has lost capacity to execute legal documents and has no power of attorney in place or has a power of attorney that is no longer usable (for example, if the named agents are deceased), a guardianship proceeding may be the only recourse.
Your daughter owned a home. She died, leaving one child. No changes have been made to the house title, but the mortgage company refers to her estate and the tax assessor has put her son on the tax account. You desire to help sort out the situation and think the power of attorney will help.
Some people think that, because their assets are jointly owned with a spouse or are in a trust, they do not need a Power of Attorney, or that if they become incapacitated, their spouse automatically has the authority to make medical decisions on their behalf.
As you age, it is important to have your affairs in order to ensure peace of mind for you and your family. Several documents need to be in place to help your family know and carry out your wishes.
A power of attorney names a person who can act on your behalf. This person is called your “agent” or “attorney-in-fact.” Before you create a power of attorney, you should know your options and which ones your home state allows.
