Elder Law Minute: Effective Powers of Attorney
Hi, I’m Kaye DeSelms Dent with Dent Coulson Elder Law, here with an Elder Law Minute. Today we will discuss Effective Powers of Attorney. Our videos aim to educate you about the elder care journey, which often begins earlier than you might think. We hope you find this information useful. If you have further questions, please contact us at Dent Coulson Elder Law.
Understanding Powers of Attorney
Many people believe that powers of attorney should only take effect when someone is declared disabled or incapacitated. However, this approach can lead to complications. The process of declaring someone disabled or incapacitated can be slow and costly, as it often requires court intervention. This delay can be costly, both in terms of money and time.
The Benefits of Immediate Effectiveness
The main purpose of a power of attorney is to ensure that your agent can act on your behalf without needing court approval. If your documents require a formal declaration of disability or incapacity before your agent can act, it can result in delays. For instance, I had a case where a physician’s delay in making a declaration caused significant problems for an elderly client. To avoid such issues, it is crucial to have a power of attorney that is effective immediately.
Addressing Common Concerns
Some people worry that if powers of attorney are effective immediately, agents might misuse their authority while the principal is still capable. The solution is to select trusted agents who understand their responsibilities. By choosing reliable individuals who respect the parameters of their role, you can avoid unnecessary delays and ensure your decisions are made efficiently.
Contact Us for Assistance
Thank you for watching our Elder Law Minute. If you need help with powers of attorney or any other estate planning needs, please call Dent Coulson Elder Law.
Also looking for information about Medicaid and Asset Preservation? Visit these articles:
“Your Trusted Advisor on the Elder Care Journey”
Dent-Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Dent-Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (618) 632-7000 (IL) or (314) 567-9292 (MO), or Contact Us and we will get in touch as soon as possible.
