YES!! A power of attorney allows you to name an agent to manage your financial affairs. A medical directive allows you to name an agent to make medical decisions for you in the event you are unable to make them yourself. Do not wait until you are in need of these documents.
If you do not have these documents and are deemed unable to execute these documents due to mental incapacity, your family will have to file a Guardianship and Conservatorship action. This requires filing a petition with the court, evidence from doctors and a hearing. If this occurs you may have no choice in who the court appoints to handle your financial and medical affairs. Additionally, the cost difference is a no-brainer!
Powers of Attorney and Medical Directives generally cost about $300.00 each and a Guardianship/Conservatorship action about $5,000.00.
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