09-23-2024, 02:57 PM
|
#48
|
Powerplay Quarterback
Join Date: Aug 2002
Location: Mayor of McKenzie Towne
|
Quote:
Originally Posted by Fuzzy14
Enduring Powers of Attorney and Personal Directives often get lost in the wills discussion, but they are critical documents in the estate planning process. My clients will often ask if they need to bother with doing them, and the answer is an emphatic yes.
Remember, if you suffer an incapacity, your family members may not be able to manage your financial affairs during your period of incapacity. If you're incapable for a week, that may not be a big deal, but if you suffer a prolonged incapacity, that can have significant consequences.
When evaluating the cost, folks should also consider that if they end up needing an Adult Guardianship or Trusteeship order, that process takes several months to complete and will likely accumulate several thousand dollars in legal fees to complete.
|
Very much this.
I've stopped our firm from quoting standalone wills unless the client can demonstrate to me they already have valid PDs and EPoAs in place.
__________________
"Teach a man to reason, and he'll think for a lifetime"
~P^2
|
|
|