I can not stress enough how important it is to have a Power of Attorney. I had a situation recently where the brother of a client became terminally ill. The brother was not married and had no children. His only relative was my client. With the illness, my client's brother could not pay his bills and my client was taking care of all these expenses. However, my client did not anticipate such a prolong illness and needed to access his brother's money to continue with the payments.
When I visited the brother in the hospital, I realized that he did not have the capacity to execute a Power of Attorney. Obtaining a guardianship was going to be the only option available to my client. Guardianship procedures are long and costly. Whereas, a Power of Attorney can range from $75 to $150.
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When I visited the brother in the hospital, I realized that he did not have the capacity to execute a Power of Attorney. Obtaining a guardianship was going to be the only option available to my client. Guardianship procedures are long and costly. Whereas, a Power of Attorney can range from $75 to $150.
Leave your comments here or contact us at http://www.ythlaw.com/
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