Most people are not familiar with what a power of attorney can do for them and hope that they never encounter the situation of needing this document. However, the creation of a power of attorney document is important so that you have options for people you choose to act in the way you want if you become unable to act for yourself.
While you certainly hope you don’t need your power of attorney document to become active, you don’t want to make your loved ones deal with the fallout of not having it in place.
There are two primary disadvantages to not having a power of attorney. The first is the judicial process itself, which can mean the appointment of a guardian or a conservator to care for you. This can drain your family and friends of money and time while already in a difficult situation.
The second disadvantage to not having a power of attorney is that you will have no say in who the court chooses to appoint. This person can have broad authority to act on your behalf and you may want to have a say in who this is. You might not want a closest relative or the person who is most likely to be appointed by the courts to make decisions on your behalf.
However, if you do not have a power of attorney document, this can happen without your consent. Consult with an experienced estate planning lawyer to create your own power of attorney document.