What are the risks of not having a power of attorney in place?

Failing to have a power of attorney in place poses a variety of risks to an individual in Virginia. A power of attorney document grants an agent authority to act on behalf of the principal in all legal, financial, and other matters. Without such a document in place, an individual may lack a legal representative to advocate on their behalf should the need arise. Without a power of attorney document, a person’s decisions and wishes regarding medical, financial, and other matters may not be honored in the event of an unexpected illness or injury. For example, if an individual suddenly fell into a coma, their wishes may have no legal standing if they do not have a power of attorney document to designate their wishes. Should the individual become unable to manage their own estate or assets due to illness or injury, another person may not be authorized to make decisions on their behalf. Additionally, failing to have a power of attorney document can result in lengthy and expensive litigation for the individual and their family. Without a legally binding document in place, courts may need to be involved to ensure that the individual’s medical, financial, and other wishes are honored. This can be both costly and time consuming. In Virginia it is important for individuals to make sure that they have a valid power of attorney document in place. This document ensures that the individual’s wishes are taken into account in the event of illness or injury, and that their financial and other matters are handled according to their wishes.

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What are the risks of not having a power of attorney in place?

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