Why would I need a financial or medical power of attorney?

Both medical and financial powers of attorney give your agent and your family the authority and the directions to make decisions for you if you are not able.  It takes the pressure off those close to you to try to determine what you would want and how to go about accomplishing it.  It gives your agent the authority to act on your behalf.  If you have not executed these documents, then your family or those close to you will have to go to court seek a guardianship or conservatorship to manage your affairs.  If a property or asset is owned by a husband and wife as joint tenants and one of them becomes incapacitated, then the asset cannot be sold or transferred without having the court appoint a conservator for the incapacitated person and seek permission from the court to approve the sale.  If assets need to be liquidated to provide for care or to move into a home that better fits the needs of the individuals, this cannot be done if they have not appointed an agent to make decisions act on his or her behalf through a power of attorney.