If you live in Tennessee and you do not have a power of attorney, you leave important decisions to chance. A power of attorney (POA) is a legal document that lets you choose a trusted person to act on your behalf. Without one, your family has limited authority to help you on matters regarding your money, property and even health.
The conservatorship process
Without a valid POA in place, your family may have no choice but to petition a court for a conservatorship if you become unable to manage your own affairs. In Tennessee, a conservatorship is a legal proceeding where a court appoints a surrogate decision-maker.
The conservatorship process involves court hearings, legal fees and court supervision. Thus, the court will ultimately decide who manages your affairs, which may not align with your personal preferences.
Loss of financial control
You lose the ability to choose who handles your financial affairs when you do not designate someone through a POA. The court-appointed conservator will handle major financial transactions and decisions. While this person can be a family member, it could also be a professional conservator you have never met.
Additionally, many institutions will refuse to speak with anyone other than you unless they have a valid POA or a court order. This can lead to missed mortgage payments, insurance gaps and delayed financial decisions.
Healthcare complications
When you do not establish a healthcare POA, your family may struggle to make medical decisions on your behalf. While Tennessee law provides a hierarchy of family members who can make healthcare decisions, disputes can arise. The process may not reflect your true wishes regarding medical treatment.
Taking action today
You do not need to fear leaving you or your family’s future to chance. Consider working with a legal professional in Tennessee to draft a durable POA or a healthcare POA to retain control. Consequently, you decide who you trust and spare your family from unnecessary courtroom battles or procedures.