Should I have a Durable Power of Attorney?

Should I have a Durable Power of Attorney?

Yes.  Everyone should have a durable power of attorney.  A durable power of attorney is an important part of planning your estate.  If it is properly prepared and executed, a durable power of attorney is a low-cost and private alternative to the costly and lengthy court process of appointing a guardian or conservator. 

If you become incapacitated without a durable power of attorney, your family may have to ask a judge appoint a guardian or conservator for you.  A guardian takes care of you personally.  Your conservator takes care of your financial affairs.  If you have questions about a guardian or conservator, contact Thomas T. Tornow, P.C. at http://www.tornowlaw.com.

Appointing a guardian or conservator is a lengthy and costly process that is usually paid for from your assets.  It requires filing a case in court and one or more hearings before a judge.  The person filing the case, that person’s attorney, your attorney, and perhaps other witnesses, are all required to be at the court hearing.  The judge will appoint another person (called a visitor) to meet with you and report to the judge.  The judge will probably require you to be examined by one or more doctors who report to the judge.  The guardian or conservator is paid from your assets.  The judge usually requires the guardian or conservator to inventory your assets and make periodic reports.  The hearings, inventory and reports usually open to the public.

If you have a durable power of attorney, a conservator or guardian may not be necessary because your agent can handle your affairs privately.  There would be no court case or reports to a judge.  No one would be prying into your affairs and your medical condition, assets and other information would not become public records.

If a conservator or guardian is still necessary, and if your power of attorney names who you want as your guardian or conservator, the judge is required to appoint that person.  Otherwise, the judge, rather than you, chooses the guardian or conservator and sets the scope of his or her authority.

Appointing a guardian or conservator adds to the stress of your loved ones during an already difficult time.  All this can be avoided if you have a properly prepared durable power of attorney.  To get a durable power of attorney or to make sure your power of attorney protects you and your family, contact Thomas T. Tornow, P.C. at http://www.tornowlaw.com.

Thomas T. Tornow, P.C.

By: Thomas T. Tornow

This post is exclusively for informational purposes. It is not legal advice. Viewing this post, using information from it, or communicating through this blog does not create an attorney-client relationship. Thomas T. Tornow, P.C. is not liable for the use or interpretation of information on this blog and expressly disclaims all liability for any actions you may or may not take based on the content of this blog.