Why a Power of Attorney Matters
When you get your will or trust, your attorney will often include a power of attorney (POA). And honestly, this simple document can save families from enormous headaches.
I’m passionate about this because I’ve seen what happens when people skip it. I once had a client who always meant to get her POA done but kept putting it off. Then her mental health began to decline.
Here’s the problem — once someone is no longer of sound mind, it’s too late to create a power of attorney. Neither I nor an attorney can accept instructions or create legal documents at that point.
In her case, she started taking large withdrawals — nearly 20% of her account in just a few months — and I had strong reasons to believe she was being taken advantage of. It became an awful situation that ended a long and trusted relationship, since she grew upset that I was questioning what she was doing with “her money.”
A power of attorney can prevent this. It ensures someone you trust can make decisions and protect your interests if you can’t. It’s simple, inexpensive, and one of the most important estate planning documents you’ll ever sign.
