subject: Power Of Attorney Lawyers Offers Sound Advice! [print this page] One must always "hope for the best but plan for the worst". That way you are open to all of the exciting possibilities that life presents, but are prepared when things don't go as you had planned.
We baby boomers, our parents and extended families are living longer, with all the wonderful medical advances, but at the same time, at an increasingly younger age, more and more people are suffering from diseases such as Alzheimer's and other degenerative diseases. Thus, to ensure that each and every adult in our family has an up to date Power of Attorney for Property and a Power of Attorney lawyers for Personal Care/Living Will that reflects their current wishes is one of the most important and valuable things that we can do for ourselves and our families.
Will is prepared by many people these days but they forget to draw up a power of attorney. Unfortunately, they do not realize that when they are dead, their will deals with distribution of their property, but when they are alive, a power of attorney for property deals with property matters. At the same time, it is important to note that when they are unable to make personal care and treatment decisions for themselves, a power of attorney for personal care becomes effective.
Some people think that as they own everything jointly, they don't need to have a power of attorney for property. However, even though they owned the home jointly, she had to have a power of attorney for her husband in order to complete the transaction, when a client of mine recently discovered when her husband had a stroke and their mortgage came up for refinancing. Luckily to sign the document, the husband recovered sufficiently. If he had not so, as the guardian of his property she would have been faced with making an expensive Court Application to be appointed. Glasgow solicitors can extend sound advice in such situations.
If you were in a car accident and in a coma, have you considered what your family would do and what will happen if they could not access your bank accounts or manage your business affairs? Further, if you became mentally incompetent and were unable to make financial decisions for yourself or treatment or care decisions, what would happen to your finances? The effect of such events could be devastating to your family and business, if you did not have a power of attorney for personal care and/or property.
For property, a properly drafted power of attorney is needed and if you are not competent to make decisions thereby helping to reduce stress during an already stressful time for your family, one for personal care allows you to appoint someone you trust to act on your behalf. The cost is quite minimal for a lawyer prepared power of attorney and in legal costs, one can save thousands of dollars down the road.
