With a durable power of attorney in place, you never have to be concerned with what would happen should there come a time in the future when you are disabled and unable to make your own decisions.
It is up to you to designate the terms, conditions, and limitations of the durable power of attorney, and your agent is responsible for then managing your affairs, if you become disabled, based on your wishes.
Many people in Bellevue are unfamiliar with the benefits of a durable power of attorney. For this reason, they opt against this and simply hope that nothing bad goes wrong in the future. Obviously, this is not the best financial plan.
Before you discuss this option with a qualified Bellevue estate planning lawyer, here are some of the many benefits to be aware of:
1. Gives you the ability to decide who will make decisions for you, as opposed to the court. Without a durable power of attorney, a guardianship or conservatorship may need established. Not only can this be time consuming, but it can be costly as well.
2. No need for a guardianship or conservatorship. When somebody does not have a durable power of attorney upon becoming incapacitated, they have no choice but to have somebody petition the court in hopes of being appointed a guardian or conservator.
3. Removes all the guess work. With a durable power of attorney in place, there is no guess work regarding the person’s wishes. This can go a long way in removing some of the stress from the situation, while also avoiding arguments between family members.
4. Allows the agent to act on the person’s behalf. In many cases, an agent will be faced with the task of making health care and financial arrangements. Without a durable power of attorney, many companies will refuse to disclose any information to this person.
5. Provides the opportunity to discuss the future. While nobody wants to think about getting old and what would happen if they were to become incapacitated, it is something that needs discussed. There is a lot of thought that goes into creating a durable power of attorney, so this gives everybody involved the chance to discuss the future.
These are just a few of the many benefits associated with a durable power of attorney in Bellevue. If you have questions or concerns, contact a qualified estate planning attorney to discuss your personal situation.