We’ve all been reading all we can about COVID-19. What is it? Where did it originate? How do we keep from getting it? What items do we need to get through the pandemic successfully? Maybe you’ve stocked up on toilet paper (I’m still not certain why that is in high demand?) or hand sanitizer and soap. Maybe you’ve adhered to the Federal Government’s call for a fifteen-day plan to stop the spread of COVID-19. We’re officially on Day 8, but who is counting??
Here’s one item you may not have put in your shopping cart yet: an Estate Plan. We all need one, and a crisis seems to have a way of giving those who have put it off too long a nudge. We especially need to look out for the elderly to help them get the process started. Make a point to ask your elderly parents, grandparents, and family friends whether they have their affairs in order regarding who they would like to make decisions for them should the need arise.
The first stop on the road to an estate plan is to have a Power of Attorney drafted. A Power of Attorney is a legal document drafted to give certain legal and/or healthcare powers of a legal principal to an agent. This agent can then act on behalf of the principal just as if he or she was the principal. The powers given to the agent can vary depending upon the needs of the principal.
If you or a loved one needs a power of attorney, the first step is to write down what powers you would want to give to an agent should you have the need, decide who you would like to give that power, and decide when you would like for this agent to have that power. You can choose to give them power immediately. You can also choose to have a springing power of attorney drafted that will only give the power to the agent upon your incapacitation.
Once you know what you want, you should contact an attorney licensed in your jurisdiction. If you would like to speak with us about drafting your Arkansas power of attorney document, fill out this intake form, and we will be in touch soon.