• Home
  • Our Firm
    • About Our Firm
    • Areas We Serve
      • Los Angeles County
        • Inglewood
        • Malibu
        • Santa Monica
        • Torrance
        • Venice
    • Attorney and Staff Profiles
    • Awards & Recognition
    • Giving Back
    • Our Reviews
    • Staff Events
  • Services
    • Asset & Business Planning
    • Estate And Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses
    • Financial Planning Assistance
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning Services
    • LGBTQ Estate Planning
    • Medi-Cal and Elder Law
    • Pet Planning
    • Special Needs Planning
    • Trust Administration & Probate
      • Trust Administration & Probate Definitions
  • Seminars
  • Resources
    • Elder Law
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
      • Medi-Cal Planning Checklist
    • Estate Planning
      • Estate Planning Checkup
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Elder Issues
        • Estate Planning For Niches
        • Trust Administration
      • Estate Planning Definitions
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Free Seminars
    • Frequently Asked Questions
      • Estate Planning FAQs
      • Estate Planning for Women FAQs
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning FAQ’s
      • LGBTQ Estate Planning FAQs
      • Medi-Cal FAQs
      • Probate FAQs
      • Trust Administration & Probate FAQs
      • Trusts FAQs
    • Newsletters
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Videos
  • Reviews
    • Our Reviews
    • Review Us
  • Women’s Planning
    • A Guide to Estate Planning for Women
    • Frequently Asked Questions
  • Blog
  • Contact Us

WAEstate

Los Angeles Estate Planning Attorney

Connect with us today(310) 677-9787

Attend a Free Seminar

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram

Why Would I Grant a Power of Attorney?

December 1, 2016Estate Planning

power of attorneyFinancial matters will logically come to mind when you think about estate planning. However, if you want to be comprehensively prepared for the inevitable, you should consider the possibility of incapacity late in your life.

When you read the term “late in your life,” you may immediately think about your senior years. Indeed, most people do pass away when they are senior citizens.

However, as sad as it is, there are those who die at younger ages. Therefore, preparations that you would make for the period of time preceding your death are applicable to adults of all ages, because you never know what the future holds.

Incapacity Is Common

People often become incapacitated and unable to handle their own affairs before passing away. This can be due to physical incapacitation when you simply cannot communicate because of a medical condition.

Though this condition may be very temporary, there are times when people are unable to communicate for extended periods of time.

There is also the matter of mental incapacity. This is very common among our nation’s senior citizens, largely because of the ubiquity of Alzheimer’s disease.

If you are interested in learning some objective facts about Alzheimer’s disease, a good resource to tap into would be the Alzheimer’s Association website. You’ll find a lot of interesting and attention-getting statistics on the site.

According to the Alzheimer’s Association, upwards of 45 percent of the oldest old (people who are at least 85 years of age) are suffering from Alzheimer’s disease.

Living to this age is not a long-shot by any means. Once you reach the age of 65, it becomes statistically likely that you will live into your 80s. The most recent census revealed the surprising fact that the 10 year age group comprised of people between 85 and 94 grew faster than any other between 2000 and 2010.

When you consider these facts, you can see that the prudent course of action would be to prepare for the possibility of incapacity.

Conservatorship

If you become unable to handle your own affairs, a conservator could be appointed by the court to act on your behalf.

Most people would rather make their own choices in advance of incapacitation. This is because the court appointed representative may not be someone that you would have chosen.

There is also the matter of possible disagreements among members of your family with regard to the selection of a conservator, or even with regard to the necessity of a conservatorship.

A conservatorship proceeding can take time. While the matter is held up in court, life will go on. While the case is in limbo, difficult circumstances can arise.

Durable Powers of Attorney

You can render conservatorship proceedings unnecessary by executing incapacity planning documents called durable powers of attorney.

Most people are aware of the fact that in general, a power of attorney is a document that you can execute to appoint someone else to act on your behalf. However, a power of attorney does not remain in effect if you become incapacitated unless it carries a durable designation. For this reason, durable powers of attorney are used to account for the possibility of incapacitation.

When you have durable powers of attorney in place, your own hand-picked decision-makers will be at the ready to act on your behalf if and when it becomes necessary.

If you want to use a durable power of attorney but you are concerned about giving the agent powers right away, you may want to consider executing a springing durable power of attorney.

This type of power of attorney springs into effect only in the event of your incapacitation.

There are different types of decision-making that may become necessary if you were to become incapacitated. Someone must handle your financial affairs, but health care decision-making may become necessary as well.

You may want to empower the same person to make both types of decisions. However, you have the option of executing two different durable powers of attorney. You could name an agent to handle your finances, and another agent to make your health care decisions.

Learn More About End-of-Life Planning

It is important to address potential end-of-life issues when you are devising your estate plan. We have provided a bit of basic information in this blog post, but you can learn a great deal more if you download our special report.

Our firm has prepared a comprehensive report that will tell you everything that you need to know about incapacity planning. The special report is being offered on a complimentary basis at the present time, and you can click this link to get your copy: Free Incapacity Planning Report.

To Schedule a Free Consultation

If you are interested in the possibility of working with our firm after learning these facts, please select our “Workshops” tab to RSVP for a free estate planning workshop. At that workshop you will be offered a free one-hour consultation with an attorney:  https://collinslawgroup.comseminars/

  • Author
  • Recent Posts
Caprice Collins

Caprice Collins

Attorney Caprice L. Collins is a top rated Harvard Law School graduate. She has 34 years of legal experience with a successful law practice devoted exclusively to Estate/Business Planning and Trust Administration. Attorney Collins is a well-respected keynote speaker on Wills, Living Trusts, Estate Planning, Business Planning and Trust Administration. She has appeared on California’s Real Estate Radio Station KTLK AM 1150 as a legal expert on Estate Planning and Living Trusts among many other notable media appearances.
Caprice Collins

Latest posts by Caprice Collins (see all)

  • Probate Mistakes You Want to Avoid Making - December 5, 2019
  • What Should I Do If I Suspect My Mother Is the Victim of Elder Abuse? - December 3, 2019
  • Can I Disinherit an Heir to My Estate? - November 27, 2019

Other Articles You May Find Useful

Crenshaw estate planning attorney
Can I Disinherit an Heir to My Estate?
Turning the Page on 2018 and Looking Forward to 2019
Windsor Hills estate planning attorneys
When Is Leaving an Equal Inheritance Not the Best Decision?
Los Angeles trust administration attorneys
Questions to Ask When Choosing a Trustee
Sager Family Shows Perils of Blended Families
Los Angeles estate planning lawyer
Los Angeles Estate Planning Lawyer Explains the Danger in a DIY Will

Download our Free Report

Learn the common reasons you need to not only build and protect your hard-earned money, but transfer it with as little depletion and expense as possible.

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Testimonials

Ms. Collins and her team has earned my trusts and respect. They showed professionalism, attention to details and made me feel like I am family. It is truly reassuring to know that my family and I won’t he on our own after the documents are executed.

Saida H.–
My overall experience with Collins Law Firm has been great. The process of estate planning was thoroughly explained with personal care and concern. The entire staff is very personable and eliminate any intimidation. I feel very relieved to have completed this process and I am very comfortable in knowing that Collins Law Group is available to us for any needed help.

Mattie S.–
We received excellent and clearly explained directions with respect to the creation of our living trust and the required follow up actions. Caprice is easy to work with and she inspires full confidence in her abilities. We continue to work with her as we review changes in our lives and the adjustments required to insure that our trust does what we want it to do.

John C.–
Attorney Collins was referred to us by a friend who had a living trust prepared for his family. We attended one of her very informative seminars on living trusts. Shortly there after we had out trust done.  She is very thorough, precise and follows up to ensure we’re satisfied with our estate plan. The staff was wonderful as well.

Tony B.–
We’ve had Living Trusts done by two different attorneys over the last 12 years. After retaining the Collins Law Group, it became clear that the others weren’t up to the same standard. Attorney Collins and her staff have an eye for detail that was absent from the other firms we used. It was the difference between dining at a gourmet restaurant, and a fast food drive-thru. The Collins Law Group is terrific at putting you at ease, and makes the process relatable and easy-to-understand. After watching other family members go through the ugly, hot mess of Probate, we definitely feel safe and in control of our estate and the legacy we’ll leave behind for our children.

Mr. & Mrs. Owens–

Where We Are

Collins Law Group
3330 West Manchester Boulevard
Inglewood, CA 90305
Phone: (310) 677-9787
Fax: (310) 677-6742
Email: clcfirm@aol.com

See Larger Map Get Directions

Office Hours

Monday9:00 AM - 6:00 PM
Tuesday9:00 AM - 6:00 PM
Wednesday9:00 AM - 6:00 PM
Thursday9:00 AM - 6:00 PM
Friday9:00 AM - 6:00 PM

Map

collins_sidbr_map
  • About Our Firm
  • Advantages of Working With Our Firm
  • Services
  • Sitemap
  • Resources
  • Blog
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
footer-logo

Attorney Advertisement

© 2019 American Academy of Estate Planning Attorneys, Inc.