The other day, I was having a conversation with a certified financial planner I know, and we got onto the topic of Power of Attorney (POA). It’s one of those things most people don’t think about until it’s too late, and the statistics on how many people don’t have one in place are pretty shocking.

What Is a Power of Attorney, and Why Does It Matter?

For those unfamiliar, a Power of Attorney is a legal document that allows someone you trust to make decisions on your behalf if you become incapacitated. This could be for financial matters, medical decisions, or both.

Now, here’s where it gets serious. If you don’t have a POA set up and something happens to you—whether it’s a severe accident or a sudden medical emergency—the state may step in and make those decisions for you. In many cases, this means your affairs end up in probate court, which can be costly, time-consuming, and stressful for your loved ones.

Don’t Think You’re Too Young to Need One

A common misconception is that POAs are only for older adults. That’s simply not true. No one plans for accidents or unexpected illnesses, but having a POA in place ensures that someone you trust will be able to act in your best interest if you’re unable to do so. Without one, your family may face significant legal hurdles just to manage your affairs.

Choosing the Right Person for the Job

When setting up a Power of Attorney, you need to designate someone who is responsible, trustworthy, and capable of handling tough decisions. This could be a spouse, family member, or a close friend – someone who understands your wishes and will act accordingly.

If you don’t have a POA in place, now is the time to consider it. And if you’re unsure where to start, I can connect you with some excellent financial planners, wealth managers, or attorneys who can guide you through the process.

Take control of your future now because waiting until it’s too late is not an option.

Larry Burgher
Empire Home Loans
NMLS #1887785