Power of Attorney St Peters Missouri
One of the most tragic issues that can happen to the elderly or disabled is when they are exploited by people in order to gain access to their finances. This is why it is critical for family members to make sure that there are legal protections put in place to stop these types of actions. One such legal tool is a St. Peters Missouri power of attorney. A power of attorney is a legal document that grants permission for one person to represent another person when it concerns their financial and medical matters.
Creating a power of attorney in St Peters Missouri can be beneficial in many different ways. For example, if a person cannot be present to sign legal documents (i.e. they are in the hospital), the power of attorney can sign the documents for them. A power of attorney is also crucial if the person becomes incapacitated. The document then allows for the person appointed to take care of the person’s financial issues or make decisions regarding that person’s medical care.
Durable Power of Attorney
It is important to understand the difference between power of attorneys. In some cases, the power of attorney ends should the person become incapacitated. For example, an elderly woman moves to a nursing home and has her attorney draw up the documents that grant her daughter a general power of attorney so the daughter can oversee the mother’s finances matters. When the mother does this, she has all her facilities. However, at some point, the mother becomes very ill and incapacitated. At this point, the power of attorney is null and void.
In order to avoid this situation, states have passed laws that allow for a durable power of attorneys. With this type of power of attorney in St Peters Missouri, should the person become incapacitated, the original power of attorney documents are still valid. They will remain valid until a prior specified termination date or until the person who granted the power of attorney passes away.
By implementing a durable power of attorney, the following can be avoided:
- The person gets to make the decision before they become incapacitated instead of the decision being made by the courts.
- There is no need to appoint a conservator or a guardian.
- The person and their family have the opportunity to discuss what the person’s wishes are in the event they become incapacitated. This includes not just financial wishes, but also medical.
- Prevents disputes among family members about what the person’s medical directives are.
- Protects the person from potential financial abuse from any family member.
- Allows the person appointed to discuss and address any financial issues with the appropriate financial institutions or any other appropriate government agencies, companies, etc.
- Allows the person appointed to make necessary transfers in order for the person to be eligible for any public assistance or benefits (i.e. Medicare)
Call Our Office Today
If you would like to learn how a power of attorney St Peters Missouri clients rely on can work for your family, call Legacy Law Center to meet with an estate planning attorney St. Peters, MO families trust today.