Joe walks into our office and is in pretty much of a panic. He speaks with Stephanie and explains that his wife had a stroke at 61 years old and they have no documents in place. I went to the nursing home to see if she was able to sign a power of attorney and unfortunately, she was unable to. I explained to Joe that to proceed they may need to file a guardianship or try again when her conditions improve. She then aspirated and is in ICU and the prognosis is unknown. If she makes it through this, it is still possible she will not be able to sign a Power of Attorney. Now it is an emergency and emotionally Joe is a wreck. After assuring him that we will get through it and we will keep her in our prayers, Joe broke down crying.
The last thing you want to do when you have someone who has suffered a stroke or a debilitating illness is worry about the finances. Had they just thought about getting their planning done sooner there wouldn’t be this sudden emotional chaos or rush to get this done. I now need to tell him that half of his assets and possibly more, now need be spent on nursing home care. Joe will be left of half of what he has worked for his whole life.