I have a question about legal documents. I am an only child, my mother whom I take care of is also an only child. Both my mother's parents are deceased.I have POA, but not a formal MPOA.I probably shouldn't assume that I wouldn't need one or a living will since I have no siblings and I am legal next of kin. My father has been deceased for 15yrs.Should I go to the expense of a lawyer for these documents?My name is already on all her checking accounts and CDs.Would appreciate any advice.
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We had some very, very unexpected medical issues after my sister died. I was health care proxy for my father and had to invoke provisions of his Living Will in order to accomplish a variety of actions after he was unexpectedly intubated and put in a chemically induced coma.
Does your mother own property? If so, is title held by your mother and you as joint tenants with rights of survivor, so that the title would pass directly to you?
If she has any mutuals, stocks, IRAs, retirement or pension funds, those should be considered as well as to how they're titled.
Do you also hold joint title to her car, if she still has one?
If all of her assets will already pass directly to you, it sounds like you're covered. You can also check with your community's senior center to determine if they offer free legal advice, as many in Michigan do. A brief consultation with an attorney might raise issues that would require some additional protection. At least then you'd be comfortable knowing what you might or might not need to do.
Don't forget to think about how you eventually want your own assets to be allocated as well.
Attorneys have to spend 3 years in law school, for a reason. Legal services are expensive, but if someone needs legal help it's worth it to get it rather than use on-line forms.
I'm not challenging anyone who has recommended these online legal sites, just saying that from about 4 decades working in various aspects of law I would never consider an online site for legal documentation.
Good luck!
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