Why You Need to Grant Powers of Attorney
Elder law and estate planning attorney Andrea Lee joins Suzanne to share advice and tips for legal planning to help you age gracefully in a situation that you like. Andrea Lee serves as an attorney for Legacy Estate Planning in Bellevue, Washington. The power of attorney document is a critical tool to let your family help take care of you when you’re in a crisis.
Andrea says, “There are a lot of misconceptions regarding the power of attorney documents, having the ability to manage an individual’s state or affairs, and what each person should have in place. Now, typically when I talk about estate planning, I equate it to a pyramid, where there are certain tools every single adult should have in place. Every single person over the age of 18 should have very basic estate planning documents. But as people age, it becomes more important to have those basic documents in place. I would say weekly, I get a phone call or a message that says I need to get power of attorney over my mom. And the reality is, you don’t get power of attorney over someone, an individual has to give that power… We each have the ability as adults to make decisions on our own. But it’s, it’s really difficult to think that a time [may] come… to empower our children or our cousins or whomever loves you and wants to take care of you, to help you navigate aging or potential incapacity. Of all the estate planning documents I prepare for my clients, financial power of attorney is one of the most important documents.
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Originally published March 11, 2024
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