One of the most common times that an estate planning attorney is engaged to draft a power of attorney document is when an elderly loved one is suffering from Alzheimer’s or dementia.
A durable power of attorney enables an agent, most likely a trusted family member, to make financial and medical decisions on behalf of the person who is unable to articulate these concerns and manage their assets. If you, a spouse or a parent is currently suffering from dementia or Alzheimer’s, it is critical to consult with an estate planning attorney as soon as possible about creating this document.
The person signing a power of attorney has to be able to understand what they are signing as a result of laws designed to protect them, such as elder abuse and other kinds of crimes. This means that it is to your benefit to create a power of attorney sooner rather than later after a person has been diagnosed with dementia.
If no power of attorney is created, other alternatives that can be more difficult might need to be pursued. The earlier you can take action the better. It is a good idea to have these documents as part of your estate plan anyways even if you or a loved one is not currently suffering from this kind of medical condition.
This is because it is one less thing to worry about in the event that you were to be diagnosed with dementia or some other medical condition that makes it important for another person to manage your affairs. Schedule a consultation with an estate planning lawyer today to learn more. Our Pasadena estate planning law office remains open and is here to guide you and your loved ones towards a comprehensive estate plan.