Not sure what to get your loved one for Christmas… Give them the Gift of Peace of Mind.
The holidays are the perfect time to spend quality time with your family, but it’s also a great time to start the “discussion.” Yes, I know no one wants to talk about the fact that they won’t be around forever, but as the saying goes “there’s only two guarantees in life – Death & Taxes.”
If your family is anything like mine – no one even wants to think about Death or Estate Planning, we’re thinking about Wealth building and providing a Great Life for our families. But to do that you have to start with some planning.
So, what is the gift of Peace of Mind?
A good Healthcare and Durable (Financial) Power of Attorney can set your family up with the Peace of Mind that they need to make important medical and financial decisions. I consult with clients and prospective clients all the time and I constantly remind them that “A little planning goes a long way.”
Here’s why a Power of Attorney is the perfect christmas gift…
A good Healthcare and Durable Power of Attorney can avoid the costly expense of a Guardianship. Many adult children and spouses come to see me when their parents and spouses have the early onset of dementia. And they need a Guardianship or Conservatorship. And at that point in time it’s a little late, but not impossible to get a Guardianship.
To get a Guardianship, the loved ones have to jump through several hoops, which include: obtaining a background check, a Statement of Competency from a medical expert, consent from other siblings, an accounting of all assets, bi-annual accounting with the Probate Court, and a Court Hearing to name a few.
Now don’t get me wrong all of this stuff is really good to make sure your loved ones assets are protected, but it becomes a daunting task as the Nursing Home is demanding payment (and you can’t get access to the bank accounts) and you’re dealing with the fact that your loved one can’t make decisions for him or herself.
So with the right Power of Attorney, you can avoid the headache for your family and give them peace of mind knowing that there’s a plan in place. Call us today 740.346.2899.
P.S. Don’t fall for the “Do It Yourself” trap either. Many do it yourself POAs have language in them that does more harm than good.