What is a Durable Financial Power of Attorney? - Hurley Elder Care Law | Georgia's #1 Certified Elder Law Attorney

What is a Durable Financial Power of Attorney?
January 31, 2023
POSTED IN: Estate Planning (Wills, Trusts, and Powers of Attorney)TAGS: Estate Planning, Finances, Power of Attorney (POA)
Share this
Share on FacebookShare on LinkedinShare on Email
Last week we explained what a Georgia Advance Directive for Healthcare is and why you should have one.To create a comprehensive estate plan, you need several documents.To be fully protected and have your financial wishes followed, you should also have a Durable Financial Power of Attorney.One major component of a complete estate plan is a General Durable Power of Attorney for Financial Matters.Although important, the financial Power of Attorney is often misunderstood.A financial Power of Attorney is a legal document that allows you to name someone to handle your finances taxes, bills, bank accounts, real estate sales, and more.

It can help protect your wishes, provide for ongoing financial management of your affairs, and ease the financial disruption that can follow an illness or accident.This legal document is one of the ways to plan for incapacity.Everyone over the age of 18 should have a complete and properly executed financial Power of Attorney.Without a Power of Attorney in place, there may be no simple way for someone to access your financial accounts or handle your affairs should you become unable to handle your own affairs.No one likes thinking about their own (or their loved ones) potential incapacity.

But unfortunately, many of us will find ourselves in need of a financial agentsomeone to step into our shoes and act on our behalf for all financial matters.As mentioned, creating a complete estate plan that includes a Power of Attorney can help you avoid complicated legal situations such as a Conservatorship.Many clients who come to us for Conservatorship urgently require our services simply because a financial Power of Attorney was never created.A bit of preplanning before a crisis can make a big difference.

It may seem like an unnecessary hassle and expense when youre healthy and of sound mind but having a Power of Attorney is an essential part of a complete estate plan (even if you never plan to get ill or injured).As they say, better to be pennywise than pound foolish!In 2017 Georgia adopted a version of the Uniform Power of Attorney Act.What does this mean?Even if you have a Power of Attorney, it may need to be updated.

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.While a Power of Attorney that was executed prior to the new law is still valid, there are extended protections and powers that are only available under the newer statute.

It is certainly worth revisiting your Power of Attorney if yours was executed prior to the implementation of the new law.Click here to learn more about theUniform Power of Attorney Act.To get started with your complete estate plan, contact Hurley Elder Care Law at (404) 843-0121for a complimentary phone consultation with our intake specialist.
Share this
Share on FacebookShare on LinkedinShare on Email

Posted in Estate Planning (Wills, Trusts, and Powers of Attorney)Tags: Estate Planning, Finances, Power of Attorney (POA)

Posts navigation Advance Directives
Subscribe to our blog and monthly newsletter.Subscribe to blog and newsletter First Name First name Email NameThis field is for validation purposes and should be left unchanged.

Share
Share on FacebookShare on LinkedinShare on Email

Featured Resources
Essential Estate Planning Documents: Making Choices, Taking ActionMedicaid Eligibility: Myths, Misconceptions and MisinformationBeing Prepared: A Practical Guide to Getting Your Affairs in OrderWhat to Do When a Loved One Dies Checklist

Upcoming Events
FREE Brand New CE Webinar Healthcare Laws Every Provider Should Know: 2023 Update January 12, 2023 | 12:00 pm FREE Brand New CE Webinar Healthcare Laws Every Provider Should Know: 2023 Update February 15, 2023 | 9:00 am FREE Brand New CE Webinar Un(be)friended : Aging Alone By Choice Or By Circumstance February 21, 2023 | 12:00 pm
Search
Blog CategoriesAgingAging AllyAsset ProtectionElder LawEstate Planning (Wills, Trusts, and Powers of Attorney)Firm AnnouncementsGeneral InfoGuardianship & ConservatorshipLife Care PlanningLong-Term CareMedicaid PlanningMedicareNursing HomeProbateSpecial NeedsVeterans Benefits
Client TestimonialsIt's impossible to accurately describe the lost feeling of realizing you need power of attorney, updated will and general guidance all of a sudden when dealing with a parent with dementia.The firms responsiveness has been superb, their work flawless and their advice kind, compassionate and professional.I'll forever know that their guidance prevented us from making many bad decisions.Neal R.Superb service through a difficult maze of governmental regulations and requirements which are not navigable by an individual without a depth of knowledge that far exceeds mine.Wallace M.All I can say is Wow ! I have never seen a team attack and solve a problem like Hurley.

We lost our father and two weeks later our mother suffered a severe stroke.Nursing home costs were draining their life savings, but Hurley found a solution and got things under control.Gary G.Due to aging, escalating health and cost concerns for both my husband and myself, I chose to work with Hurley Elder Care to do care and estate planning.I am so very pleased with the result.

I have a much improved understanding of the complexity of this process, the necessary documents, timing, regulations and the need for professional guidance.Gina M.Hurley Elder Care Law went to work for my Mother and navigated all of the Government red tape and got her approved for Medicaid in short order.I, as her POA, could not even begin to climb the mountain of paperwork on my own.David Q.Very comfortable atmosphere.They treat you like you are one of the family.Val B.
Engaging Hurley Elder Care Law was the best thing I did when undertaking responsibility for the care of my sister...

read moreEngaging Hurley Elder Care Law was the best thing I did when undertaking responsibility for the care of my sister with dementia.The staff there is amazing and guided me through the complexities of selecting a nursing home and the daily issues surrounding care.They intervened when necessary to ensure her proper care.

They were also the intermediary with Medicaid, taking the lead and guiding me when necessary.I can't say enough about their professionalism and knowledge of the eldercare laws, rules, and regulations and their desire to ensure that my sister was well represented throughout her battle with that terrible disease.read lessEd Reed 1/04/2023I would like to thank the Hurley Elder Care Law Firm for getting my cousin approved for Medicaid! My experience...

read moreI would like to thank the Hurley Elder Care Law Firm for getting my cousin approved for Medicaid! My experience with Hurley Elder Care Law exceeded my expectations! The entire team was courteous, caring, knowledgeable, responsive, and professional.From my initial meeting with Miles Hurley to review my cousin's case, my anxieties were over.Sam and Caitleen assisted me in collecting the needed documents to start my case.

Grace Suchy did an outstanding job of walking me through this process and reassuring me that they would get this done.Also, Nicole Lott, LMSW Care Coordinator, visited my cousin at the nursing home on several occasions to make sure his needs were being met and she communicated with me before and after each visit.If you feel lost and don't know exactly what you are doing, and it's very difficult getting through or working with DFACS, I encourage you to reachout to The Hurley Firm.

The Hurley Elder Care Law Firm Team provided me full service, and I am highly recommending them without any reservations.read lessRonnie Kitchens 12/31/2022Hurley Elder Care helped my and husband and me to update our Wills and our Healthcare Powers of Attorney at...read moreHurley Elder Care helped my and husband and me to update our Wills and our Healthcare Powers of Attorney at a time that was most difficult for us.

We were moving to a senior High Rise and we both have health issues.Our wills and HPA were very outdated and we had no idea where to turn.Hurley was highly recommended to us by a respected professional, and we immediately made an appointment.

They helped us navigate a lot of complicated material and within a matter of weeks, sent us a completed and updated Will and HPA in a durable notebook, with everything beautifully taken care of! They are the very BEST! read lessMarianne Craft 12/04/2022Could not have asked for a better experience with Hurley Elder Care Law! From our initial consultation with Grace Suchy...read moreCould not have asked for a better experience with Hurley Elder Care Law! From our initial consultation with Grace Suchy to the amazing year-round support from Paul Abrahamson, we were always in good hands.Paul took the time to explain complicated things in a way that was easy to understand.

The team was very professional and knowledgeable, and helped us navigate it all.And we were thankful for calls checking-in, offering help if we needed it and great reminder emails for things we need to do throughout the year.Highly recommend! read lessLynn Garber 11/02/2022The team at Hurley Elder Care Law has been top notch throughout the entire process.

From our initial meeting...read moreThe team at Hurley Elder Care Law has been top notch throughout the entire process.From our initial meeting in Duluth (to accommodate my convenience), to helping unravel my parents' finances and securing payment for my mother's long-term care, I could not have asked for a better experience.

Thorough answers, quick replies, patience with my constant barrage of questions, and a seemingly genuine care for our situation have been consistent throughout all of our interactions.I would, and will, highly recommend their services!I am not going to lie and say that this undertaking has been an easy one, nor would I downplay mom and my hesitance when making the initial financial investment needed to secure Hurley's representation, BUT I cannot imagine how overwhelmed and frustrated I would have been if I had attempted to face these processes without their help.I am aware there are free resources and guidance available from other avenues, like the nursing home where mom lives, but in retrospect I am certain that said services would have been unable to answer all of my questions.I am also fairly sure that our interests would not have been so well prioritized and protected if we had chosen to travel these paths.

Even with help it has been a daunting task, and the entire process seems intentionally designed to confound.For us time was of the essence, and we were able to secure mom's coverage a full month before we found ourselves in a self-pay situation.I could site about a dozen instances where Hurley's experience and understanding of the process saved me time and money, but most important to me was that their support alleviated a lot of the stress and all of the uncertainty in these endeavors.It has been quite the undertaking, and mom and I speak often of how glad we are that we made the right decision in hiring Hurley Elder Care Law.

read lessKeeton Hughes 10/26/2022Recently had wills n powers of attorney done by miles hurley.Two visits n everything was perfect.No rushing,...

read moreRecently had wills n powers of attorney done by miles hurley.Two visits n everything was perfect.No rushing, plenty of time for questions.

Highly recommend.read lessjohn moreman 10/24/2022Very responsive and answers thoroughly answers questions.Shannan Norton 6/13/2022Handling a probate case for me.Definitely seem to know what the court systems want around here.

Very happy with...read moreHandling a probate case for me.Definitely seem to know what the court systems want around here.

Very happy with the job they've done so far.read lesschad schoening 5/23/2022They answered my questions promptly and were reasonably priced for what I needed in comparison to some of the other...read moreThey answered my questions promptly and were reasonably priced for what I needed in comparison to some of the other attorneys I checked.They made all the arrangements to take care of the situation I had and did it in a profession and timely manner.I would refer Hurley Elder Care Law to anyone that needs assistance with getting their older parents affairs in order.They answered my questions promptly and were reasonably priced for what I needed in comparison to some of the other attorneys I checked.They made all the arrangements to take care of the situation I had and did it More read lessJ Rod 5/19/2022They answered my questions promptly and were reasonably priced for what I needed in comparison to some of the other...

read moreThey answered my questions promptly and were reasonably priced for what I needed in comparison to some of the other attorneys I checked.They made all the arrangements to take care of the situation I had and did it in a profession and timely manner.I would refer Hurley Elder Care Law to anyone that needs assistance with getting their older parents affairs in order.read lessJ Rod 5/17/2022My wife needed to find a Nursing home because her Parkinsons disease had reach a point that she could no...read moreMy wife needed to find a Nursing home because her Parkinsons disease had reach a point that she could no longer be cared for at home.

I contacted Hurley Law from a list of Elder Law care firms.They quickly put my mind at ease about the frighting cost of Nursing home care.the folks at Hurley were very professional but also caring, understanding my fear and feelings.I would gladly recommend Hurley Elder Care Law if you found yourself in need of help of this nature.My wife needed to find a Nursing home because her Parkinsons disease had reach a point that she could no longer be cared for at home.

I contacted Hurley Law from a list of Elder Law care firms.They quickly put my mind at ease about the More read lessHubert Colman 5/16/2022My experience at Hurley Elder Care Law was wonderful! I was itilally terrified and had no knowledge of how to...read moreMy experience at Hurley Elder Care Law was wonderful! I was itilally terrified and had no knowledge of how to get Medicaid for my mother.

Mr.Hurley and Kalin made everything easy to understand, they were very professional and down to earth at the same time.They were truly GOD sent for me.

If you ever need Elderly service, please don't hesitate to use their firm.I left their office feeling relieved and happy I choose the firm.Sharonia GilliamMy experience at Hurley Elder Care Law was wonderful! I was itilally terrified and had no knowledge of how to get Medicaid for my mother.

Mr.Hurley and Kalin made everything easy to understand, they were very professional and down to earth More read lessSharonia Callum 5/16/2022My wife needed to find a Nursing home because her Parkinsons disease had reach a point that she could no...read moreMy wife needed to find a Nursing home because her Parkinsons disease had reach a point that she could no longer be cared for at home.

I contacted Hurley Law from a list of Elder Law care firms.They quickly put my mind at ease about the frighting cost of Nursing home care.the folks at Hurley were very professional but also caring, understanding my fear and feelings.I would gladly recommend Hurley Elder Care Law if you found yourself in need of help of this nature.

read lessHubert Colman 4/25/2022My wife needed to find a Nursing home because her Parkinsons disease had reach a point that she could no...read moreMy wife needed to find a Nursing home because her Parkinsons disease had reach a point that she could no longer be cared for at home.I contacted Hurley Law from a list of Elder Law care firms.

They quickly put my mind at ease about the frighting cost of Nursing home care.the folks at Hurley were very professional but also caring, understanding my fear and feelings.I would gladly recommend Hurley Elder Care Law if you found yourself in need of help of this nature.read lessHubert Colman 4/22/2022My experience at Hurley Elder Care Law was wonderful! I was itilally terrified and had no knowledge of how to...

read moreMy experience at Hurley Elder Care Law was wonderful! I was itilally terrified and had no knowledge of how to get Medicaid for my mother.Mr.Hurley and Kalin made everything easy to understand, they were very professional and down to earth at the same time.

They were truly GOD sent for me.If you ever need Elderly service, please don't hesitate to use their firm.I left their office feeling relieved and happy I choose the firm.

Sharonia Gilliam read lessSharonia Callum 4/21/2022Dealing with Hurley Elder Care Law was a very pleasant experience.From my initial call to the law firm, to...read moreDealing with Hurley Elder Care Law was a very pleasant experience.

From my initial call to the law firm, to signing the final documents, the process went extremely smooth.It was very helpful to have a satellite office that was not in downtown Atlanta.read lessLinda Keck 4/19/2022











Hurley Elder Care Law Practice Areas
Practice Areas Medicaid PlanningAsset ProtectionWills, Trusts and Powers of AttorneySpecial Needs TrustsGuardianship & ConservatorshipProbateAging AllyLife Care PlanningVeterans Aid and Attendance

404.843.0121
[email protected]
M-F: 8:30 am 5 pm

Atlanta
2727 Paces Ferry Road SEBldg.

1, Suite 100Atlanta, GA 30339
Directions
Peachtree City
2011 Commerce Drive,Suite 100Peachtree City, GA 30269
Directions
Duluth
6340 Sugarloaf Parkway,Suite 200Duluth, GA 30097
Directions
Woodstock
224 River Park North Dr.Woodstock, GA 30188
Directions
2023 Hurley Elder Care Law | Georgia's #1 Certified Elder Law Attorney.All Rights Reserved.
Privacy | Terms and Conditions