Don't Wait Too Long For Incapacity
Don't wait till its too late to do something about planning for
incapacity. The population is aging and more and more Californians
are going to be facing some sort of incapacity.
Recently I have
encountered multiple situations where I get a call from a loved one,
friend or neighbor concerned about the well being of an
incapacitated senior who is now hospitalized. Unfortunately too many
people have never planned at all for a time when they may still be
alive but unable to manage their financial or other affairs.
By the time you reach the hospital it will be too late. It is
best to plan while you are still able to.
With a properly drafted and executed Durable Power of Attorney
for Finances and a properly drafted and executed Advanced Health
Care Directive you can prevent the headache that will befall your
loved ones if you are ever incapacitated.
Executing a Durable Power of Attorney for Finances and an
Advanced Health Care Directive can save your estate potentially tens
of thousands of dollars. If you do not have a functioning durable
power of attorney and/or advanced health care directive, your well
being will be managed by a Superior Court Probate Department instead
of your loved ones. The normal route in this situation is a
Conservatorship of the Estate and/or person. A conservatorship of
the estate or person is a costly process which requires anyone
stepping into the shoes of the conservator (the person looking after
the person no longer able to handle their affairs) will be required
to undergo an extensive background check and post a bond with the
court. Additionally there will be attorney's fees, court filing
fees, and a fee for a court investigator. This can add up to tens of
thousands per year of a conservatorship. Having an attorney draft
these documents will most likely cost a few hundred dollars.
Of course you can go to Nolo, legalzoom or a "We the people"
store to execute a statutory version of these forms. However, only
an attorney can advise you about how to get people to honor these
documents and only an attorney can advise you as to the advantages
and disadvantages of various clauses and help you customize these
documents. The bottom line is a financial institution or bank etc is
much more likely to accept an attorney drafted power of attorney
than a statutory form. They are also much more comfortable when an
attorney has been a party to the document.
Christopher R. Twining
About the Author:
About the law offices of Christopher R. Twining
Christopher R. Twining, Attorney at Law, based in the Westwood
Neighborhood of Los Angeles is an innovative estate planning,
probate & trust administration, and
elder law attorney, who offers in home services for busy
and movement challenged clients. The Law Office of Christopher
R. Twining serves the cities of Los Angeles, Santa Monica,
Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank
and the neighborhoods of West Los Angeles, Westwood,
Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson
and Encino. Dedicated to helping individuals and couples
prepare comprehensive estate plans according to their wishes;
he offers them these services at an affordable price, in the
relaxed comfort of their homes.
Law offices of Christopher R. Twining
1440 Veteran Avenue, Suite 509
Los Angeles, California 90024
(310) 492-5990 Fax (310) 775 - 9774