Why a Durable Power of Attorney is an Absolute Must

My Dad was an incredibly intelligent human. Professionally, he was an electronic system analyst and technician. It did not matter if it had to do with electronics, electricity or mechanics, the man knew his stuff. That is why, on December 4th 2011 when we received his official diagnosis from the VA of Vascular Dementia, we were all shocked. If you had told us that our dad would – one day – have dementia and would end up in a Memory Care Unit in his mid-50s, we would have said “No way” and laughed, but as much as I hate to say it, it would – eventually – transpire.

Before being placed in the memory care unit, my mom passed away of cancer and they had not previously set up any type of Power of Attorney. As a result, I ended up becoming my dad’s legal Guardian. Not only was this a long, complicated, and stressful experience, it was very costly – right at about $8,000.

While going through the process of obtaining Guardianship over my dad, I learned that had we set up a Durable Power of Attorney before he was diagnosed with dementia, we would have been able to avoid the whole Guardianship thing altogether. Why? A regular Power of Attorney is no longer effective when someone becomes incapacitated, but a Durable Power of Attorney Does remain effective if someone becomes incapacitated.

Now, I learned a lot of long but important lessons as I have traveled down this road we call “Life” and I feel I should pass these lessons on to others to help make their lives easier. I encourage you to continue reading this and to share it with those that you care about. Right now, I am in the process of getting a Durable Power of Attorney done on myself. Why? Because, like my dad, I am encountering weird medical issues way earlier than I should be. At the age of 27, I had a mini-stroke – which even surprised the those at the hospital where I was admitted. In 2022, At the age of 45, I had another TIA. In March of this year – 2024 – I had the “real” stroke at the ripe old age of 47. It was listed as an “infarct of 1.7 cm in the right side of the basal ganglia of the brain” on the MRI and CAT scan results. I am suffering some side effects, but they have not been as bad as they could be. The truth of the matter is, though, I have a lot of underlying issues and I could very well have another stroke in the future that could result in my becoming incapacitated. So, knowing what I know, it is time to have a Durable Power of Attorney done BEFORE that happens and I encourage each of you to do the same.

What is a Durable Power of Attorney?

A Durable Power of Attorney helps in planning for the future by designating someone to oversee your finances and money and make medical decisions and legal decisions if you are unable to do so because you become incapacitated. The person selected to be designated as the POA could be a relative, a friend, or a lawyer. It goes into effect right away or when that person is unable to make decisions for himself or herself. The Durable POA remains in effect until the person who grants it cancels it or dies. It does not need to have a renewal at any time. It is also often referred to as a “DPA”.

What Are the Benefits of Putting a Durable Power of Attorney into Place?

There are many benefits to putting a Durable Power of Attorney into place. These include the following:

1. You get to choose who you want to make decisions for you- the person is not chosen by a court.

2. You can avoid having to go through a Guardianship or a Conservatorship.

3. It allows you and your family members to discuss your wishes.

4. You can make the Durable Power of Attorney as basic or as comprehensive as you wish.

5. It prevents the intent of the named principal from being questioned.

6. It helps to prevent delays in asset protection planning.

7. It protects the agent from claims of financial abuse allegations

8. It allows the agent or agents to talk to other agencies.

9. It allows the agent or agents to perform planning and associated transactions in order to make the principal of the DPOA eligible for public-based benefits.

10. It provides peace of mind for all involved parties.

If you have not already done so, set up an appointment with a law office today and get your Durable Power of Attorney done so that your loved ones are not scrambling to become your Guardian if you become unable to make decisions for yourself.

If you liked this article, please consider leaving a tip as this writer has incurred many medical- related expenses since having the stroke and could use any help provided.