What Happens If There Is No Power of Attorney?

One of the most critical aspects of estate planning is timing.

If Powers of Attorney are not created prior to the incompetency of the person needing to grant the powers, then Guardianship may be your only option.

The Risks of Waiting

Failing to have these documents in place can lead to significant hurdles for your loved ones who are trying to help you.

1. Medical Decisions

If the person seeking to help is not a spouse, the medical professionals may not listen to the expression of the wishes of the incompetent person without a court-ordered guardianship.

2. Financial Access

If the account is not joint with the incompetent person and the person seeking to help, then the financial institution will not allow that person to access the account.

Important Note: This is true regardless if the person seeking to help is the beneficiary of the asset.

How to Avoid Court Interference

Preplanning is the key to avoiding court interference in your life. By establishing a Power of Attorney now, you ensure your chosen advocate has the authority to act when it matters most.

Contact Moseman Law Office today to get your plan in place.