What if you were involved in a tragic accident? What if something happened and you became unable to make decisions for yourself regarding your person, your finances and estate? Who has the legal authority to act and make decisions for you? These are questions that you need to ask yourself and obtain the answers to before you are unable to do so.
Most of us have heard we should never procrastinate when it comes to creating documents such as our will or our trust that will leave your assets to the beneficiaries of your choice. While this is true, appointing a power of attorney is of equal importance. You need someone in place who can make decisions for you when you cannot. You do not want to suddenly be in a situation where you cannot create a power of attorney for any reason and must rely on the court to find the right decision maker for you, which is not only expensive but can lead to devastating family conflict.
You cannot make a power of attorney, or any of your Wisconsin estate planning documents, if you do not have the capacity to do so. You need to take advantage of your good health while you have it and make choices that protect you and your family. Your estate planning attorney can work with you to help you understand the responsibilities of the agent who would act under your power of attorney. You should choose someone who you can trust in a time of crisis and after, who you know will be available and competent to make both health and financial decisions for you. Don’t hesitate to name a second, or alternate, decision maker as well, in case your first choice is unable to act for any reason.
If you become incapacitated you will not be able to make the decisions that you can now. This is why you need to plan ahead now rather than later. The good news is, this does not have to be complicated. It can be a smooth process if you choose to do it ahead of time. If you do not procrastinate, you can avoid any burdens that may be placed upon your family due to an unexpected accident. At the Hougum Law Firm, we know and understand the challenges you face and we want to help you plan ahead to protect yourself and those you love most. Call us at (715) 843-5001 or contact us through our website to schedule an appointment with Attorney Alan Hougum.