We have all seen the movies centering on a death; a sobbing, grieving widow, bereaved children and an attorney sit in an office. Before us, on the silver screen, the drama over the estate, and the inheritance ensue, tearing the family apart. While these types of movies might entertain us, leaving your own family with such a dilemma is not a pleasant thought. Estate planning may seem morbid, or perhaps uncomfortable to one that is blessed enough to currently be in excellent physical health, but it is actually one of the greatest gifts you can do and give to your children, or whomever you leave behind that loved you. One of the ways you can alleviate the pain, before leaving your family behind, is considering a power of attorney.
In the tragic event you become ill, or incapacitated in any way, and you did not happen to plan ahead by assigning a power of attorney, your family and loved ones are left to decide major decisions for you, either medically or financially. In good times, most families get along wonderfully, they can easily agree upon things together as a unit, but sadly, in situations rife with stress, grief, and despair, it is sometimes difficult to think critically and clearly. That is where your power of attorney comes in, and relieves the doubt brought on by debilitating illness or worse.
Choosing a POA is a daunting and important task. There are medical POAs and there are financial POAs. You can choose to use the same person for both, or you can decide to assign two separate people to each job. Your medical POA will, when the time comes, if it comes, make medical decisions for you if you cannot on your own. Your financial POA will be in charge of your money, allocating it where they deem fit, based, of course, on your best interests. That is why, when choosing, it is best not to assign anyone who may have had financial struggles of their own in the past. Nor should you plan on a POA who may hold any sort of grudge against any one of your family members.
If your medical POA and your financial POA are two different people, it is a good idea to pick individuals who will manage to get along and be able and willing to work together. Sometimes your medical POA may need your financial POA to sign documents and disperse money owed on doctor’s bills. While all these arrangements may seem overwhelming, we here at Laymen D’Atri and Associates strive to make everything as easy and comfortable as possible. We can help to ensure, no matter what, you will be in the loving hands of those who have your best interests at heart and will be capable of making the right decisions for you. At any time, anything can happen. For the sake of your family, and your own sake, isn’t it wise to be prepared for whatever life throws your way? We think so, and we would be happy to assist in the various routes you can take to protect both you and your loved ones. Luckily life is not like the movies, we seek to be grounded in reality, and the reality is, looking out for what matters most is our utmost priority here at Laymen D’Atri and Associates.