Life is going along fine and you have little, if any, cares in the world. You’re enjoying retirement together, and the finances and assets that you have gathered over the years to use during this time in your lives are securely set up in both of your names. But are your assets really secure?
A lot of assets can be transferred to the surviving spouse in the event of the death of the other. This is true of such assets as IRAs and 401Ks, but what about the unfortunate event of one of you becoming incapacitated? As tragic as a spouse becoming disabled is, it can be an even bigger tragedy because many retirement assets do not have provisions for a disability of the holder. This means that if your spouse becomes incapacitated, you may not have the legal power to make decisions concerning you and your spouse’s assets.
What does this mean for you? Without proper legal documentation, family members will need to go to court to file for a guardianship in order to prove that the healthy spouse is able to handle the disabled spouse’s affairs. Think how heartbreaking this situation can be. Filing for guardianship from the court means having to deal with a judge to give account of your legal activities for the rest of your life! In a situation like this the family will need to give an account to the court of all your financial activities. This means doing your accounting according to the court’s whim and having little freedom to make your own financial decisions. This means needing to keep track of all checks you write and having to justify every expense you make. In fact, the check stubs you are required to turn in to the court can even become part of the public record! A guardianship means having a court-appointed guardian, rather than you, make decisions about yours and your loved one’s personal care and medical needs. A guardianship is very intrusive into your personal and private life! And worse, a guardianship is an expense that is avoidable if only your assets were set up correctly. What can you do?
Thankfully, this horror story can be easily avoided! What is the solution to the situation of needing to have a court appointed guardian to make decisions regarding your personal property and assets? The solution is a durable power of attorney for finances. We can help you secure your assets in a way that keeps the power of decision-making in your hands, where it belongs. Just by signing our comprehensive powers of attorney documents will save you from being at the mercy of the court and the whim of a judge.
What will our service provide for you? We will provide you with the proper documentation that allows you to decide who you wish to act on your behalf. You will also need a health care power of attorney. We can provide the documentation that will allow you to appoint who will make these decisions for you as well. Our services will help you avoid the heartbreak, cost and indignity of a guardianship, by giving you the power of choice! Isn’t that better than allowing a judge to decide for you?
We have your best interests in mind by putting you back in control of your assets and your future. We have the experience, caring, and expertise that you need. Hire us today to help you set up your durable power of attorney finances.
