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Penny Wise - Pound Foolish

Posted by Kaci Pedersen | Sep 29, 2017 | 0 Comments

Do you have a will? Or a Georgia Advance Directive for Healthcare? Or a Durable Financial Power of Attorney? These relatively easy planning tools can prevent many problems down the road. Generally, these types of powers of attorney deal well with both healthcare decisions (admission to hospital, nursing homes, etc.) and financial matters (dealing with the ability to write checks, access funds, etc.) they are extremely helpful if a parent or a spouse becomes incapacitated. If you do not have these documents in place, the non-incapacitated relative must take legal action in a probate court to obtain the power to make healthcare decisions and financial decisions. With these documents, you are often able to avoid the more costly, time consuming and inconvenient process of pursuing that case in court. As the old saying goes, do not be penny-wise and pound-foolish. Think about asking a lawyer to draw up the appropriate planning documents, such as a Will, Durable Financial Power of Attorney and Georgia Directive for Health Care. They are not prohibitively expensive but they can save you a fortune in the long run. Contact attorney John Medina, jmedina@ksmlawyer.com.

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