Powers of Attorney
Almost everyone worries about what will happen if they reach a point in their life, either through age or health, when they are unable to care for themselves. Who will pay the bills, make the deposits, and make the decisions that have to be made?
There are two procedures whereby one person can be granted the legal authority to act on behalf of another. After a hearing and a finding of incompetency, the court may appoint guardians to oversee the disabled person's financial and/or personal affairs. In this situation, the person who is the subject of the proceeding ordinarily has little or no input into what person or financial institution is placed in charge of them or their assets.
The other method is for one person to grant to another person a power of attorney. A power of attorney is a document that gives the chosen person, usually a spouse or child, the legal right to manage the financial affairs and/or make other types of decisions for the giver of the power.
The most important thing to remember about giving a power of attorney is that when it is needed because of diminished mental capacity, it is usually too late to give one. An incompetent person cannot give a power of attorney. Other important considerations are that the giver of a power can include certain limitations on how assets are to be used, and while competent, the giver retains the right to cancel the power and/or replace an agent (an agent is the person who receives a power of attorney). Giving a power of attorney does not mean a mentally competent person loses the right to make their own decisions
Because a power of attorney is such a powerful legal document, it is advisable to discuss the issue with a qualified attorney. In my 34 years of legal practice I have often advised people that they don't yet need to give a power, that they may not have made the best choice for an agent, or that certain provisions should be included for their protection. For many more, I have prepared powers that have provided immediate peace of mind for the client, their spouses and their children, and later which have facilitated the necessary assistance and care.
If you would like to discuss giving a power of attorney, or any other related legal matter, please contact me at 717-733-8604. I will be glad to discuss legal fees and costs when you call. If we cannot arrange an appointment during my business hours between 9:00 a.m. and 4:30 p.m. we can schedule an evening appointment. If you cannot travel, I am happy to meet with you at your home, or if necessary, in the hospital or nursing home.
