The Invaluable Benefits of a Well Drafted Durable Power of Attorney.
This month’s ‘Tips and Tales’ focuses on the invaluable benefits of a well drafted Durable Power of Attorney.
Tale: Jane Smith was involved in a catastrophic automobile accident. Although rendered a paraplegic her cognitive abilities were not affected. Since she was able to speak and communicate it was not necessary to pursue legal guardianship in order for her to hire you and proceed with a lawsuit. But what happens if during the pendency of the litigation she becomes incapacitated? What happens to your case then? How do you explain to Jane Smith’s family why they have to incur thousands of dollars for a guardianship?
Tip: As soon as you meet with a new client and they engage your services refer them to our firm so we can prepare an incapacity plan to avoid a guardianship. That plan will include, among other documents, a Durable Power of Attorney. The DPOA will specifically authorize an agent to be able to initiate or continue a lawsuit including the ability to settle it. The cost of an incapacity plan is minimal compared to the cost of a guardianship and will maintain your client’s privacy which is priceless.
We want you to be an informed consumer when making a decision for yourself and/or your family. Let us use our expertise to create an estate & incapacity plan that helps you achieve your goals.