What happens when an adult is injured in a terrible accident and is in a coma? If the person was in charge of the household’s finances, how will bills get paid while they are recovering? If they are never going to recover, how will their family make financial or health care decisions on their behalf?
This unfortunate scenario is one of many life events that an estate plan can address.
AL.com’s recent article, “If You Don’t Have This, You Need It” says that a better solution is to be proactive and have your attorney create a Power of Attorney before you need one. Let’s look at the different types of POAs.