Let's Talk Estate Planning

The Problem with a Springing Power of Attorney


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Will your Power of Attorney work when you need it most? What if your family found out the hard way that it's basically locked—and no one has the key?

Here's the thing about powers of attorney that most people—and even some professionals—miss: it's not enough to just have the document "signed and stashed away." When that moment of crisis hits and your family needs to act fast to pay the bills, protect assets, or help with care, a single line in your paperwork could halt everything.

I'm sharing the story of Mary and her mom, Irene, and the hidden trap inside so many springing powers of attorney—the kind that wait to go into effect until doctors sign off. If you care about making things smoother for your family, instead of leaving them tangled in red tape, you need to hear this before you sign your next document.

In this episode, I show you how easy it is to fall into this paperwork trap, and explain what you can do right now to make your power of attorney work when it's needed. By the end, you'll know how to actually extend your independence, protect your loved ones from expensive delays, and make sure your wishes are carried out—no matter what curveballs life throws your way.

Chapter Highlights

(00:00) Why "when" your power of attorney becomes effective matters more than you think (01:15) What is a "springing" power of attorney—and who does it really protect? (02:24) Why getting medical certificates for powers of attorney is tougher than it sounds (03:33)How one family's springing power of attorney nearly sabotaged their ability to pay for care (05:20) What happens if financial institutions won't honor your power of attorney (06:24) How to set up your power of attorney for immediate effectiveness and minimal headaches

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Meet Jim Miskell

Jim Miskell is the principal attorney and founder of the Estate Planning Law Group of Georgia, James M. Miskell, PC, and practices exclusively in the areas of Elder Law, Estate Planning, and Probate. Jim began his law career more than 30 years ago as an Assistant District Attorney, specializing in prosecuting crimes against children and special victims.

For the past decade, Jim has been in private practice as The Estate Planning Law Group of Georgia, James M. Miskell, P.C. and now specializes in wills, trusts, estate planning, and elder law, helping families plan for all stages of their lives.

No two families are the same and no two estate plans are the same. Jim believes that estate planning is most effective when you understand all of your options before making any major decisions. To that end, the Estate Planning Law Group of Georgia, James M. Miskell, PC, offers free educational workshops so that clients discover potential issues and options for their families. Then, in consultation, families can make informed decisions in planning for the future.

Disclaimer:

The information provided in this podcast is for general informational and educational purposes only. It is not legal advice. If you need advice about your specific situation, please consult a qualified attorney licensed to practice in your state and experienced in the relevant area of law.

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Let's Talk Estate PlanningBy The Estate Planning Law Group of Georgia