Importance of establishing a durable power of attorney

Estate planning is a topic that Torrance residents may not find important. Planning for the end of a life or the event where a person is incapacitated are not pleasant ideas. But, without a power of attorney plan in place, a person and their assets can be vulnerable if they become incapacitated.

Most people will not live to an old age with all of their mental faculties in place or in perfect health. Alzheimer’s, dementia, a stroke, car accident, etc. occurs in millions of Americans each year. When a person is medically or mentally incapacitated, it is important that their interests are protected.

Planning ahead and creating a Durable Power of Attorney is one of the most important documents a person can put in place. The document allows a designated person to act on the incapacitated person’s behalf. When a person is declared disabled, the designated power of attorney kicks in. They will have the ability to make financial decisions and medical decisions on a person’s behalf within the parameters set up by the Durable Power of Attorney document.

Without a power of attorney document in place, families will need to go through many steps in order to take over their loved one’s care and finances. This can be a long and involved process that involves going to the courts and having them appoint a guardian. A legal professional who is skilled in estate planning can help a family establish important power of attorney documents. These documents are critical in helping families care for a loved one who is no longer able to care for themselves in an efficient way.

Unfortunately, most of us will not live into old age with all of our mental and physical capacities intact. This is why a power of attorney document is important in making sure our medical and financial interests are protected.