Power of Attorney

Cost Of A Power Of Attorney

Discusses the cost of a power of attorney and the cost of not having one.

The cost of a power of attorney is one concern that many people have when considering creating one. How much does a power of attorney cost? This can vary, and it depends on many factors.

One of the biggest factors in the cost of a power of attorney is who draws it up. If you are using an estate planning attorney with a lot of experience, this will cost you more than using an online form to create a power of attorney. Another factor in the cost of a power of attorney is what else you have created. If you are using an estate planning attorney to plan your entire estate, including making a living trust as well as powers of attorney, the cost may be included in the price whether you create a power of attorney or not.

Whatever the cost of the power of attorney, you need to consider the cost of not having one. The financial cost of not having a power of attorney is much greater than if you have one. This is because there will be a court process to determine who your guardian will be, and this could end up costing you over $1000—and that’s just the initial court hearing. After that, there are yearly trips to the courthouse that will cost you yet again.

The other cost of not having a power of attorney cannot be measured in dollars. Having someone you love—instead of just someone appointed by a court—make your decisions regarding your healthcare and finances is worth more than money can buy.

As you can see, the cost of having a power of attorney is not near as expensive as the cost of not having one. So, whatever the amount, it is money well spent.