Estate planning is a major step for anyone who has a significant amount of money or property to bestow. Unfortunately, if disability strikes a person before they grant a power of attorney to someone they trust, their estate planning may go awry.
Disability Can Complicate An Estate
When a person suffers from a disabling situation, it can complicate their estate planning by making it difficult for them to execute a plan. Diseases, such as cancer, heart attack, and arthritis may make it hard for them to get around and concentrate. Even worse, serious problems such as stroke or even Alzheimer's can make it nearly impossible for them to plan an estate successfully.
In these situations, a person needs someone to help plan and execute their estate according to their wishes. Unfortunately, if the disability occurred before the person granted a power of attorney, a guardian may be chosen for them, someone who they may not have wanted to hold that kind of power.
Trustees Will Be Appointed If No Attorney Is Indicated
If a person planning an estate does not grant power of attorney to someone in writing, a guardian will be appointed by the court. This decision isn't always a bad situation because the court will try to pick someone who has the best needs of the person in mind. However, that person may have different ideas on what is best for that person's estate and may go against their wishes.
These actions don't necessarily mean they are trying to counteract their loved one's estate or steal anything. For example, they may decide that a burial is appropriate even when their loved one requests a cremation. Avoiding this type of situation requires granting a power of attorney to someone who isn't affected by emotion for the person who they are helping.
How Granting The Power Of Attorney Protects An Estate
When a person going through estate planning gives someone power of attorney, they are choosing a person that they trust. Usually, they pick a person with legal experience in estate planning who isn't necessarily close to them on an emotional level. This lack of emotion is a good thing because it lets the attorney execute the plan to the letter without suffering from personal conflict.
Granting a power of attorney also helps avoid the kind of family infighting that can occur after a person ends up disabled and can no longer handle their estate. For example, it can prevent the family from influencing the guardian who is executing the estate in a way that goes against their loved one's wishes.
So finding someone who can hold a power of attorney is something that should be considered by anyone who is attempting proper late-life estate planning. It may be a challenging task, but it is one that should be done before disability can become a problem.
For more information, you will want to contact a firm such as Lynn Jackson Shultz & Lebrun PC.
Share18 June 2017
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