Life can change in an instant. A car accident, a stroke, or a progressive illness like Alzheimer’s can leave you or a loved one suddenly unable to make decisions. When that happens, who will step in to manage your finances? Who will make medical decisions on your behalf?
Without legal documents in place, your family may be forced to go through court proceedings just to gain authority to act on your behalf—an emotionally draining and expensive process.
That’s why establishing Powers of Attorney (POAs) is one of the most critical—and often overlooked—steps in any solid estate plan. At Generations Legal Group, we help families prepare for the unexpected, so they can navigate tough times with clarity and confidence.
What Is a Power of Attorney?
A Power of Attorney is a legal document that allows you to designate someone (called your agent or attorney-in-fact) to act on your behalf if you're unable to do so.
There are two main types:
- Financial Power of Attorney – This allows your agent to manage financial matters such as banking, paying bills, managing investments, and even selling property.
- Medical Power of Attorney (or Healthcare Proxy) – This allows your agent to make healthcare decisions if you are incapacitated.
Both documents are essential and should be tailored to your specific needs and wishes.
What Happens If You Don’t Have One?
If you become incapacitated and haven’t designated a power of attorney:
- Your family will likely have to petition the court for guardianship or conservatorship.
- This process is time-consuming, costly, and public.
- You won’t have control over who the court appoints to make decisions for you.
- Loved ones may disagree over what you would have wanted, creating unnecessary conflict.
In contrast, a POA gives you control, avoids court involvement, and provides your loved ones with a clear roadmap during uncertain times.
Why Acting Early Is Essential
Here’s the catch: You must be legally competent to create a Power of Attorney. Once you lose capacity, it’s too late to sign the document, and you’ve lost your chance to choose your own decision-maker.
Many people wait until they're older or sick to think about this—but the truth is, POAs should be in place for every adult, no matter their age or health status. Even young adults, especially those heading off to college, should have POAs in place in case of an emergency.
Choosing the Right Agent
Choosing your agent is a personal decision. You should pick someone who:
- Is trustworthy and reliable
- Understands your values and wishes
- Can make difficult decisions under pressure
- Will act in your best interest, not their own
You can name different agents for healthcare and financial matters, depending on who’s best suited for each role.
How Generations Legal Group Can Help
At Generations Legal Group, we don’t just hand you a form and send you on your way. We take time to:
- Understand your goals and concerns
- Draft comprehensive POAs that are legally sound and customized to your situation
- Ensure your documents are valid under Arkansas law
- Coordinate your POAs with your wills, trusts, and estate planning documents
Whether you’re creating a POA for the first time or updating an old one, we’re here to help every step of the way.
One other note. If your POAs are more than 5 years old, you really should get them updated by doing new ones. Banks and investment companies really don't like to work with "old" POAs. Usually POAs don't "expire" but the institution your agent is trying to work with may give them trouble about the document not being current not accurate to the current wishes of the Principal. So, even if you have POAs but they are over 5 years old, you really should consider letting us update them for you.
Don’t Wait Until It’s Too Late
Putting Powers of Attorney in place now can save your family heartache later. It’s a simple, proactive step that ensures your wishes are honored and your affairs are in good hands.
Call Generations Legal Group today at 479-601-4119 to schedule a planning session. Let’s make sure your future is protected—on your terms.
H. Todd Whatley, CELA*, LLM Elder Law
Owner, Generations Legal Group and The Elder Law Coach
Email: Todd@GenerationsLegalGroup.com
479-601-4119
2701 SE J St., Suite 109, Bentonville, AR 72712
Podcast for Seniors and their families.
*As certified by the National Elder Law Foundation, an ABA-approved organization for certification.
