What are the consequences of not having a Durable Power of Attorney?

If Mom is incompetent but she has a Durable Power of Attorney things can be relatively simple. I will simply explain to the spouse or child who is the agent which legal documents should be presented to various banks, brokers and medical institutions as well as doctors and hospitals and how to use these legal documents to accomplish the things that need to be done for Mom. However, if Mom doesn’t have these documents then we probably are looking at getting a guardianship which will take 1 to 3 months and cost $1500 to $2000. Ultimately Mom’s wishes probably will not be followed as if she has the proper legal documents in place explaining in writing what she wanted done. In addition, having a Durable Power of Attorney can avoid family conflict. When a Guardianship is required the children could argue which child should be in control and appointed as Guardian. A Durable Power of Attorney spells out all these things in detail. There is no question exactly what Mom wanted done is she were not able to make her own decisions.

Bookmark the permalink.

Comments are closed.