This is a fear of many adults. What if I become incapacitated and can’t communicate? Will my family be able to access my financial accounts? Can someone pay my bills? Who will make health care decisions? What if someone needs to access money from my retirement accounts for living expenses due to my injury?
If you have planned ahead, the paperwork will be in place for family members to be able to handle the situation. However, if you have not prepared a power of attorney or a health care power of attorney, it will be much more difficult and expensive for your family to care for your needs and provide for your care.
Often, family members must file to appoint a guardian who will make decisions on your behalf if you are unable. While the papers granting someone the authority to make decisions on your behalf cost only a few hundred dollars, a guardianship action may cost thousands. This comes at a time when your family will be emotionally stressed and distracted.
A power of attorney allows you to appoint someone to make decisions on your behalf if you become disabled or incapacitated. This will allow someone to keep your affairs in order until you get back on your feet. A health care power of attorney will allow you to appoint someone to make health care decisions on your behalf. They can help arrange for medical care and enforce your wishes regarding your medical treatment. As long as you are capable of making decisions, signing a power of attorney will not take away your right to do so.
Let us help you prepare before the unthinkable happens. Call Toussaint Law Firm at 888-1900 for a free appointment to discuss how you can protect your family from uncertainity.