BLACK FAMILY WEALTH MATTERS: Click here to learn how we are working to support you.
Proteja Su Hogar Y Su Familia-Se Habla Espanol. Haga clic aquí!
  • Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Areas We Serve
      • Los Angeles County
        • Inglewood
        • Malibu
        • Santa Monica
        • Torrance
        • Venice
    • Pre Consultation Form
    • Attorney and Staff Profiles
      • Attorney Caprice Collins
      • Attorney Lioness Ebbay
    • 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
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
      • Trust Administration & Probate Definitions
  • SEMINARS/WEBINARS
  • Resources
    • Elder Law
      • Ladera Heights Elder Law
      • Los Angeles County 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
        • Estate Planning For Niches
        • Trust Administration
      • Estate Planning Definitions
      • Estate and Gift Tax Figures
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Free Seminars
    • Frequently Asked Questions
      • Business Succession Planning
      • Elder Law
        • Medi-Cal
        • Nursing Home Planning
        • Understanding Dementia
      • Estate Planning
        • Charitable Gifting
        • Estate Planning for Women
        • Frequently Asked Questions for Families Without an Estate Plan
        • LGBTQ Estate Planning
      • Financial Planning
        • Tax Planning in Your Estate Plan
      • Incapacity Planning
        • Veteran’s Benefits
      • Legacy Wealth Planning
      • Pet Planning
      • Power of Attorney
      • Probate
        • Serving as Executor
        • Small Estate Administration
      • Trust Administration & Probate
      • Trusts
        • Living Trusts
      • Understanding Estate Taxes and How They Impact Your Estate Plan
    • Legacy Wealth Planning Pre-Consultation Form
    • 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
    • Published Books
    • The Ultimate Caregiver Guide
    • Caregiver’s Worksheets and Checklists
  • Videos
  • Reviews
    • Our Reviews
    • Review Us
  • Women’s Planning
    • A Guide to Estate Planning for Women
    • Frequently Asked Questions
  • Trust Administration
  • Blog
  • Contact Us

Collins Law Group

Los Angeles Estate Planning Attorney

powered by BirdEye

Connect with us today(310) 677-9787

Attend a Free Seminar/Webinar
  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest
x

What to Do When a Loved One Dies

During our webinar, we discuss family home protection, avoiding nursing home poverty, preventing family feuds, protecting your kids' inheritance, and how you can keep the government out of your affairs.

Watch our webinar now
Home » Estate Planning » Why Would I Grant a Power of Attorney?

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)
  • Debunking Inheritance Planning Myths - January 26, 2023
  • Tips for Alzheimer’s Caregivers - January 22, 2023
  • Power of Attorney Problems — Gifts - January 19, 2023

Other Articles You May Find Useful

Inheritance planning lawyers
Debunking Inheritance Planning Myths
Power of Attorney Problems — Gifts
The Right Way to Disinherit an Heir
Building Flexibility into Your Plan
Using Entities in Estate Planning
Los Angeles estate planning attorney
Collins Law Group Answers 5 Common Estate Planning Questions

Primary Sidebar

Collins Law Group

Blog Subscription

Sign up to our blog to receive the latest estate planning news and updates!
  • This field is for validation purposes and should be left unchanged.

Our Attorneys

Attorney Caprice Collins

Get to Know Attorney Caprice Collins


Attorney Lioness Ebbay

Get to Know Attorney Lioness Ebbay

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest

Testimonials

Client Review
August 19, 2020
    

“My mother told me about the Collins Law Group and I must say, the entire experience has been a real pleasure. Although I was nervous at first, the Collins Law Group staff put me at ease with their friendliness and knowledge. I didn’t realize how hard it could be on your family and loved ones left behind if you die without any planning or directions in place for them. My biggest concern was making sure my elderly mother would be provided for and taken care of if something happened to me. I have been a caregiver for her for 12 years, so this planning was crucially important. I had previously made a living trust for myself on Legal Zoom but there is no comparison to the level of service and professionalism that Collins Law Group embodies. Attorney Collins and her staff provides excellent service and it will take a large burden off of my family when they need guidance at the time of my passing.”

default image
-Ms. Jones

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 - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM

Map

Collins Law Group Google Map

Footer

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

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest
Collins Law Group footer logo

Attorney Advertisement

© 2023 American Academy of Estate Planning Attorneys, Inc.