It is very common for people to put off executing powers of attorney. In fact, recent studies show that at much as 80 percent of adults do not have an executed power of attorney.
Most people think that powers of attorneys are for people who are sick or old. In reality, none of us is guaranteed capacity during any day of the week – even today! A sudden accident or health issue can quickly take our mental or physical capacity away from us without prior warning. We would be unable to take care of our own person and property. No one can predict when a person will lose capacity.
Establishing a valid durable power of attorney is relatively quick, easy, and fast. When a person fails to plan in advance, they are more or less tempting fate – and many put it off until it is too late, and their families may be unable to get the power of attorney executed because the person has lost capacity.
The family may have the person sign a power of attorney where capacity is an issue. This can lead to family disputes and/or challenges to the document. If you have any questions concerning powers of attorney, living wills and advanced medical directives, you should contact an experienced estate planning attorney.
At Losavio & DeJean, LLC, The Louisiana Elder Law Firm, we can help. Reach out to us for assistance today by calling (800) 835-5864 or by completing our online contact form.