Document Actions
Don't overlook the importance of Powers of Attorney
Both an Advanced Directive for Health Care and Financial Power of Attorney are two documents essential to have along with your Will.
By Bernard V. Kearse, III, Esq.
The Terri Schiavo case has highlighted to the nation the need for the public to have Living Wills or other written health care directives, such as an Advanced Directive for Health Care. Such an end-of-life directive could have avoided the years of litigation and hardship caused in the Schiavo case. Hopefully, the estimated 4 out of 5 Americans who do not have such a document will take action to avoid this potential tragedy.
Another important (and often overlooked) document is a Financial Power of Attorney. This document allows an individual’s “agent” to take “financial” actions in the case of a person’s temporary or permanent disability. Without such a document, for example, real property held in a person’s name or along with another person “jointly” cannot be refinanced or sold without going to Court and having the disabled individual declared incompetent. A Court proceeding involving incompetency is intrusive, time-consuming and expensive -- as well as emotionally draining. And the Court’s involvement can continue for years. Again, a relatively inexpensive document, properly prepared, can save a person’s family tremendous hardships during a temporary or permanent incapacity.
These two documents along with a Will should be considered paramount, regardless of whether an individual is moving to another state, across the street, or not at all. These are basic life documents that can protect individuals and their families from utter catastrophe.
Anyone who drives in a large city with heavy traffic knows things can change in an instant. Do yourself a favor and obtain these important documents at your first opportunity. Contact Us at Kearse & Associates, P.C.