Updated: Aug 30, 2021
It can be challenging to imagine yourself in a place where you wouldn’t be able to handle your financials and pay your debts. But unexpected circumstances occur every day, and most people wish they had been prepared with a power of attorney.
Problems to Avoid by Having a Power of Attorney
A simple legal document naming a power of attorney can save loads of stress, time, and money for you and your loved ones down the road. Do not put off the responsible tasks of today for a day that is too late. Consider what could happen without a power of attorney:
· Guardianship Court Proceedings: Even if you are married, your loved one will have to pay and wait for guardianship proceedings to be able to speak on your behalf in legal matters. If a spouse applies, other family members can step in and dispute the request.
· Unpaid Debts with Past Due Fines: If you cannot pay your mortgage and loan payments while incapacitated, debts will continue to incur and leave you with late fees or, worse, the loss of a home.
· Not Able to Apply for Medi-Cal: If you were to need access to a nursing home, your Medi-Cal application might get denied if it is filled out by someone else. A proper power of attorney would be able to get the benefits you need.
· Troubles with Transfer of Assets: If someone is incapacitated and entering a nursing home where it is best to turn over their home and belongings to a loved one, there could be trouble if a power of attorney is not in place.
· No Access to Medical Records: A power of attorney also has rights through HIPAA to access the medical records of the ill person. Without this formality, the privacy act would keep the records from the loved one trying to help.
Don’t get caught unprepared when the unexpected occurs. Meet with our team at Miles & Hatcher, LLP, today to arrange the power of attorney and any other business that needs to be put into order. You can call to talk to a member of our team: (909) 481-4080.