Power Of Attorney: Doing This Now Could Save You Thousands
Elder law attorney Julian Gray tells Marty Griffin why you need to take a close look at this tool to protect your children and other family members.
It's an uncomfortable but necessary question to ask... What will happen to your loved ones if you lose your ability to make financial or medical decisions? Certified elder law attorney Julian Gray says it's a question you should ask yourself now before it costs you in the long run.
"If you don't have a Power of Attorney in Pennsylvania a guardian is going to be appointed by a judge. And every time that guardian wants to do something of any significance, they've got to re-hire the lawyer, go back into court, pay the lawyer to ask permission to spend the money."
Watch as Julian talks to Sparkt CEO Marty Griffin about what can happen and why it's not just an issue that affects older people.
Now it's probably safe to say that most of us would rather not leave important decisions like these to someone we've never met, which can happen when the courts step in. What can you do to ensure that these decisions will be handled by a family member or someone we trust?
The most important step you can take to be proactive is through the use of a Power of Attorney document. Having that in place will prevent the need for a court-appointed guardian.
Photo by Bill Oxford on Unsplash
"The Power of Attorney is the most important and most powerful document in estate planning," explains Gray. "You are literally allowing a person to step into your shoes and handle all of your finances."
Put into that perspective, it's definitely something you don't want to leave to chance.
About Julian Gray Associates:
Julian Gray Associates provides personalized solutions in the areas of elder law, estate planning and special needs planning.
With nine full time elder law attorneys, and a team of professional staff members, we handle a large variety of elder law matters throughout western Pennsylvania. We have the knowledge and resources needed to handle all types of Medicaid planning and disability planning issues, as well as estate law matters ranging from simple to complex.
Whenever possible, we favor integrated elder law solutions that draw upon multiple sources of funding, such as Medicaid, veterans' benefits, long-term care insurance and personal estate planning provisions.
Whatever your situation, Julian Gray Associates will carefully analyze your needs and work to achieve your goals in a way that is right for you.