What Happens If I become Incapacitated Without a Power of Attorney?

Most people think estate planning is only about what happens after they pass away. In reality, one of the most important reasons to have an estate plan is to prepare for the unexpected while you're still alive.

If you become seriously ill or injured and are unable to make your own decisions, who will be able to manage your finances, pay your bills, or speak with your doctors?

Without the proper legal documents in place, the answer may be no one.

Financial Decisions

A Financial Power of Attorney allows you to appoint someone you trust to manage your financial affairs if you become unable to do so yourself.

Depending on the powers you grant, your agent may be able to:

• Pay bills and manage bank accounts

• Handle insurance claims

• Manage investments

• Buy or sell property

• Communicate with government agencies

• Conduct other financial transactions on your behalf

Without a valid Financial Power of Attorney, your family may have to ask a court to appoint a conservator before anyone can legally manage your finances. This process can be expensive, time-consuming, and emotionally stressful.

Medical Decisions

A Medical Power of Attorney allows you to choose the person who will make healthcare decisions for you if you cannot communicate with your doctors.

Your healthcare agent can work with your medical providers to make decisions consistent with your wishes regarding treatment, surgeries, medications, rehabilitation, and other medical care.

Without this document, your loved ones may face uncertainty or disagreement about who should make important healthcare decisions on your behalf.

Planning Ahead Gives You Control

Creating powers of attorney allows you—not a judge—to decide who will act for you if the unexpected happens.

For many people, these documents are just as important as a will because they protect you during your lifetime.

We Can Help

At Irons Legacy Law, we help individuals and families throughout Albuquerque and New Mexico prepare comprehensive estate plans that include Financial Powers of Attorney, Medical Powers of Attorney, advance healthcare directives, wills, and trusts.

If you would like to discuss whether your current estate plan provides the protection you need, contact Irons Legacy Law to schedule a consultation.