Powers of Attorney & Advance Directives
A Portland Estate Lawyer Who Will Make Sure You Are Covered
While Wills and Trusts are the estate planning documents that receive the most attention, Powers of Attorney (POAs) and Advance Directives are perhaps even more important. Most of us will face a period of incapacity during our lives. If you become incapacitated to the point where you cannot pay your own bills and effectively handle your assets, then the person you previously named under a POA can step in and take care of your finances for you. And if you are unable to communicate your medical wishes to your doctors, the Advance Directive you previously signed will allow your health care representative you appointed to make such decisions for you, and/or will give directions to the doctors directly as to whether or not you want life support or tube feeding in four very serious situations.
There are very important reasons as to why you would want an attorney to assist you in drafting up POAs. Some of these reasons are:
- Banks, title insurance companies, and other financial institutions have often refused to honor poorly drafted POAs
- If you do not have a sufficient POA, you may instead have to spend a few thousand dollars to establish a conservatorship through the courts
- If there is any concern about the possibility of future long term care costs and the possibility of one spouse going on Medicaid, certain language should be added to the POA in order to try to negate any future need for an expensive, court-ordered transfer of assets
- Key language should also be added to the POA if there are concerns about the Oregon Inheritance Tax or the Federal Estate Tax
Real-World, Practical Counsel on Powers of Attorney
Attorney Phil Hingson will take the time to evaluate your estate planning needs and wishes, and to tailor the appropriate POAs and other estate planning documents for your situation. He will explore your options with you, and help you craft an estate plan that will help you have peace of mind.
Assistance with Advance Directives
The Advance Directive form is a statutory form that is not created by the attorney. However, as part of your overall estate planning consultation, Attorney Phil Hingson will assist you in understanding and correctly filling out the form and, if necessary, modifying the form to fit your wishes.
It would be hard to overemphasize the importance of working with a lawyer you trust on these critical documents. Poorly drafted Powers of Attorney (POAs) may be challenged or unaccepted, out of hand, by banks or title companies. We want the best for you and your family, and encourage you to contact us about maximum protection of not only your assets, but also your well-being and peace of mind.
