What happens when we have not done any asset protection?
As we age, or we watch our family members age, we may begin to worry about having the ability to afford appropriate care and treatment. Even if one does have the means to pay privately, many do not want to spend down all their assets and would prefer to leave a legacy to their children and grandchildren.
It is never too late to asset protect. A consultation with our staff will teach you how to preserve assets while getting the care you need.
Why do we need medical and financial powers of attorney?
Medical and financial powers of attorney are so important because in these documents you nominate a person who has the authority to make medical and financial decision on your behalf. Without these documents, if you were to become incapacitated, no one would be able to legally make treatment decisions for you or pay your bills.
What happens when we don’t have medical and financial powers of attorney?
When we do not have those documents, or there are conflicts regarding those documents, we may have to go to court for a Guardianship and Conservatorship. A Guardianship is similar to a medical power of attorney because it is a court order that allows someone to make medical and placement decisions on your behalf. A Conservatorship is similar to a financial power of attorney because it is a court order that allows someone to manage your finances and property.
Going to court to obtain this court order can be a daunting experience for any family. Contact our staff so that we can assist you with this process.