What happens if I become incapacitated without a power of attorney in place?

If you lose the ability to manage your finances and have no durable power of attorney, no one, not even your spouse, automatically gains legal authority over accounts held solely in your name. Your family would have to petition a court to appoint a conservator or guardian of your estate, a process that is public, slow, and can cost thousands in legal fees. The court, not you, decides who manages your affairs and requires ongoing reporting. Meanwhile bills may go unpaid and assets may be frozen. A simple, inexpensive durable power of attorney signed while you're healthy avoids this entire ordeal. It is one of the highest-value, lowest-cost estate documents, yet one of the most commonly neglected.