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April 13, 2021

Category: Estate Planning

Five Things to Know about the Power of Attorney in Georgia (Part 2)

Thursday, 30 January 2020 by Kara Lawrence

No one likes thinking about their own or their loved one’s potential incapacity. Unfortunately, many of us will likely find ourselves in need of a financial agent, or someone to step into our shoes and act on our behalf for all financial matters. Who knows when the day will come that I am struck by another motorist and end up in the Shepherd Center, alive but unable to handle my own affairs. One day I may be one of the over 5.7 million Americans who are living with dementia. At some point in the disease progression, it is necessary for someone else to handle my finances.  This is a real possibility.

When thinking about planning for a potential incapacity, the Power of Attorney for Finances always comes up. Here are the last two of five things to know about the Power of Attorney in Georgia:

3. Banks may request their own POA forms.

Banks are still refusing to accept the new POA document. The Uniform Power of Attorney Act gave us more authority to compel banks to accept POAs, and it has worked, some. Banks, however, are leery of fraud and take every measure possible to protect themselves and their account holders. Unfortunately, this protection has been a barrier for many families caring for an incapacitated loved one. We still recommend that, when possible, you preemptively contact each of your financial institutions and complete their Power of Attorney form in addition to having a General Durable Power of Attorney form. This may be overdoing it, but this proactive step can save your loved ones.

4. The Social Security Administration and the Veterans Administration do not recognize POAs.

Many families are surprised and frustrated to learn that their POAs mean nothing to the Social Security Administration or the Veterans Administration. SSA requires that any potential agents apply to become a Representative Payee. You can learn more about the “rep payee” program here https://www.ssa.gov/payee/. The VA likewise has its own process for selecting financial agents, and they also do not accept any POAs. In the VA system, if a veteran is incapable of managing his or her finances, the VA will call for the appointment of a fiduciary. https://benefits.va.gov/fiduciary/. The appointment of a VA-Approved Fiduciary often delays benefits as the VA investigates the potential fiduciaries.

5. The Consumer Financial Protection Bureau created a resource for financial agents.

Many financial agents find the role of financial caregiving to be overwhelming and confusing. The Consumer Financial Protection Bureau created easy-to-understand tools to help caregivers manage a loved one’s money: Managing Someone Else’s Money guides. They has created a Georgia-specific guide.

Planning for incapacity is an important part of estate planning. If you are ready to create a complete estate plan or need to review your existing plan, please contact us to arrange your consultation. We are available by phone and through our website.

Call us at 678.324-8511;

E-mail us at Info@LawrenceLegal.Law; or 

Click here to schedule a consultation.

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Five Things to Know about the Power of Attorney in Georgia (Part 1)

Monday, 27 January 2020 by Kara Lawrence

No one likes thinking about their own or their loved one’s potential incapacity. Unfortunately, many of us will likely find ourselves in need of a financial agent, or someone to step into our shoes and act on our behalf for all financial matters. Who knows when the day will come that I am struck by another motorist and end up in the Shepherd Center, alive but unable to handle my own affairs. One day I may be one of the over 5.7 million Americans who are living with dementia. At some point in the disease progression, it is necessary for someone else to handle my finances.  This is a real possibility.

When thinking about planning for a potential incapacity, the Power of Attorney for Finances always comes up. Here are the first three of five things to know about the Power of Attorney in Georgia:

1. The POA is still the best first step in planning for incapacity.

A Power of Attorney is a legal document that allows you to name someone to handle your finances — taxes, bills, bank accounts, real estate sales — if you become incapacitated. This legal document is still the best way to plan for incapacity. It is far from perfect, and it still leaves some gaps in planning, but it is the best first step in planning for incapacity. Without a Power of Attorney in place, there may be no simple way for someone to access your financial accounts or handle your affairs. Many clients who come to us for Conservatorship, have to retain our services simply because a Power of Attorney was never created.

When looking for a Power of Attorney, you want one who is a “General Durable Power of Attorney.” “General” means that the powers covered in the document are broad, not limited. “Durable” means that the document will still be good even if you lose capacity.

2. Georgia updated the Power of Attorney laws in 2017.

Powers of Attorney are not “set it and forget it” documents. In addition to your situation and needs changing, the law changes. This happened just recently. The Georgia legislature changed our Power of Attorney laws on both July 1, 2017 as well as July 1, 2018. We became the 26th state to adopt the Uniform Power of Attorney Act.

It is important that your documents be updated to be in compliance with these new laws. There are extended protections for Georgians, but you can only take advantage of these protections if your Power of Attorney was signed after the laws were adopted. Click here to learn more about the Uniform Power of Attorney Act.

Call us at 678.324-8511;

E-mail us at Info@LawrenceLegal.Law; or 

Click here to schedule a consultation.

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Do I Need More Than an Advanced Directive?

Friday, 24 January 2020 by Kara Lawrence

Some may need more than an advance directive.

Advance directives can be misinterpreted, misplaced, or disregarded. The advance directive tells healthcare professionals generally what types of treatment you may want if you are in a coma or have a terminal diagnosis and cannot communicate, as well as, tells them who is allowed to make your healthcare decisions.

When you can’t speak for yourself, your healthcare team will review your advance directive and talk to your surrogate to make healthcare decisions. If you are found unresponsive, it does not tell emergency personnel how to respond and how to treat you.

Advance Directives are not medical orders.

An advance directive, however, may not fully meet the needs of all patients. For a patient who is worried about receiving inappropriate or unwanted care, a medical order may be needed. This is where a POLST comes in.

A POLST is a medical order for healthcare professionals.

POLST stands for Physician Order for Life Sustaining Treatment. It is a medical order that directs healthcare professionals on what to do—without having to consult your healthcare surrogate. It tells them what to do regarding CPR, hospitalization, intubation, mechanical ventilation, antibiotic treatment, and artificial nutrition/hydration.

Advance Directives and POLSTs work together.

The DNR orders and POLSTs do not replace advance directives. The documents work together. Everyone should have an advance directive, and only some people should consider a DNR order and/or POLST. You may want to have a DNR order and/or POLST if you:

  • have specific wishes about your end-of-life care;
  • are ready for a natural death;
  • have a terminal or critical illness; or
  • are at significant risk for cardiac or respiratory arrest.

Healthcare professionals must respond quickly if/when they find you unresponsive. They will not have time to review your advance directive, and in the absence of clear orders to direct them otherwise, they must provide you with all possible life-saving measures to keep you alive. If you have a POLST, your healthcare providers should follow what your order says.

Since DNR orders and POLSTs are medical orders, they must be completed and signed by a physician. If you are interested in learning more about these medical orders, please contact your physician. 

Call us at 678.324-8511;

E-mail us at Info@LawrenceLegal.Law; or 

Click here to schedule a consultation.

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