Power Of Attorneys are becoming more and more prevalent. Its said by 2025 more than 1 million people will have dementia according to a study done by Alzheimer's Society. As of right now people that are over the age of 85 one and five people will suffer from it with higher rates from women than men.
That being said, even if you aren't elder you still should have a POA. We can't predict tomorrow there could become an occurrence that affects your ability to make life decisions. Whether its Alzheimer, head injury an infection and other factors all of which can affect your mental capabilities. Handling your financial affairs when that occurs will be virtually impossible. This is why its so important to have a lasting power of attorney. If you don't have a power attorney in place then it will make it really difficult for your family to take control over all of your finances as well as assets. When no power attorney is in place when you become mentally incapacitated more often than not your loved ones will have to get in touch with the courts which can be a lengthy as well as costly process. A few things POA will be able to control of:
- Financial and Business Transactions
- Buying Life Insurance
- Settling Claims
- Operating Business Interests
- Selling Personal Property
- Managing Real Estate
- Collecting Debts
- Medical Decisions
At Myers Law Firm we try to make this process as easy as possible. You can download an example of the form
below as well as purchase this document from us by clicking on Paypal, to get this process started more quickly.