Who needs a power of attorney?
Who will manage your financial affairs if you become incapacitated without a pre- existing power of attorney? The answer is a court appointed guardian.
In Indiana, a court is to consider individuals for appointment as a guardian in the order listed:
- Your spouse
- Your adult children
- Your parents
- Any person related to you by blood or marriage with whom you have resided for more than six (6) months
- Any other person the court considers best qualified to serve as your guardian
With respect to persons having equal priority, the court shall select the person it considers best qualified to serve as guardian. The court, acting in your best interests, may pass over a person having priority and appoint a person having a lower priority or no priority.
While a court will base its decision on your best interests, the court could select someone to care for you that you would not want to do so. To protect yourself, everyone needs a power of attorney to protect themselves in the event of incapacity. The costs of a power of attorney are also much less than a court appointed guardian.
With over 33 years of experience, you can trust Steven Knecht to help you with your estate planning needs because your family and you have a lot at stake on the outcome.