Everyone should have a durable power of attorney in place, at least as long as they have anyone to trust to step in for them to handle financial and legal matters if they become incapacitated. We all are at risk of incapacity, whether from illness or injury, whether temporary or permanent. Of course, this risk rises as we get older.
Without someone in place to handle legal and financial matters, bills can go unpaid, contracts can't be signed, homes can't be refinanced, leases can't be terminated, investments go unmonitored and unadjusted, and families often fight over who's in charge. The remedy of seeking court-appointed conservatorship is expensive, cumbersome, and time-consuming. It's best that you pick your own person or people for this role.Read More