I saw a client today whose wife has advanced dementia. Unfortunately, no one told him at the time she was diagnosed that she should sign powers of attorney for care and property. Because they didn’t know, she now is incapable of managing her affairs, incapable of signing powers of attorney, and completely unprotected. In order to manage her care and property, he will now have to go to court to have himself named as her guardian.
Powers of attorney are extremely important documents. While this story is quite sad, the more common scenario is an accident that hits out of the blue and leaves you in a coma or otherwise severely incapacitated. At that point, it’s too late; it’s like calling an insurance agent while your house is on fire and asking to get something in place. For my client, he is looking at an expensive court application.
Do yourself and your loved ones a favour. Get powers of attorney while you’re capable to do so.
