Sample Articles: October-December 2006

Financial Power of Attorney

Deanna Recker, Attorney at Law
Betty W. Chen, Law Clerk

Consider this scenario:
A widower suffered an unexpected stroke and had to be hospitalized for several months. Complications temporarily disabled him. Simple tasks, such as signing checks, seemed almost impossible to do. His family was left with the nightmare of not being able to afford the burden of paying his medical bills, so they sought access to his bank savings. The bank denied it. The family had nowhere to turn and was forced to ask the court to appoint a conservator to access their father’s bank account. The judicial procedure of “Appointing a Conservator” is expensive and time consuming. In addition, the court requires an annual accounting of the Ward’s estate, which again is a great expense. Isn’t there an easier way?

Certainly! One of the most important and often overlooked components of estate planning documents is the “Durable Power of Attorney for Finances,” also known as the “Financial Power of Attorney.” This piece of paper protects you financially in the event of an unexpected disability. It allows you to designate whomever you desire as your “agent”, to handle your financial expenses while you are incapacitated. It also allows you to give your agent as much or as little power as you wish in handling your financial affairs.

Some of the common authorizations for an agent are:

1. Use your assets to pay off everyday bills or medical bills
2. Manage your business (if you own one)
3. Pay taxes or mortgages on your real estate property
4. Any financial matters that are foreseeable (i.e. retirement accounts)

In preparing a power of attorney most suited to your financial wishes, it is important to understand the different types of power of attorney documents that exist. Typically, a plain power of attorney automatically terminates if one later becomes incapacitated unless the power of attorney is “durable.” The two most common forms are the “non springing” durable financial power of attorney” and the “springing” durable financial power of attorney. The former type goes into effect as soon as you sign it and gives authority to your agent to make financial decisions on your behalf, even if you are not disabled. The one advantage of the non-springing durable power of attorney is that the agent will not have to obtain a letter from the doctor certifying that you are incapacitated every time your agent needs to act on your behalf. On the other hand, the latter type of power of attorney prevents your agent from having any authority over your finances until a specified event happens – such as when you are actually declared incapacitated and need assistance. This “springing” durable power of attorney allows a person more flexibility as to when you want the agent to start acting on your behalf. However, it has the disadvantage of requiring your agent to constantly be getting a new letter from your doctor stating that you continue to be incapacitated To create a legally valid financial power of attorney, Arizona Statutes (A.R.S.§ 14-5501) requires the following:

1. Contains language that clearly indicates that the principal (you) intend to create a power of attorney and clearly identifies the agent;
2. Signed or marked by the principal (you) or signed in the principal’s name by some other person in the principal’s conscious presence and at his/her direction;
3. Is witnessed by a person other than the agent, the agent’s spouse, the agent’s children or the notary public;
4. Is executed and attested by its acknowledgment by the principal and by an affidavit of the witness before a notary public and evidenced by the notary public’s certificate.
5. Further, Arizona Statutes (A.R.S. §14-5506 (B)) require the principal and a witness to initial every paragraph where it is possible for the agent to use funds, which are not in the principal’s best interest, such as commission or compensation.

Financial powers of attorney are essential estate planning tools that should not be neglected. An essential step in preparing a financial power of attorney is to understand the different types that are available, such as “durable financial power of attorney” and “springing durable financial power of attorney.” It is important to consult an attorney to make sure that you get the type of financial power of attorney that is right for you. Deanna Recker is a Full partner with The Winsor Law Firm, PLC and Chair of the Estate Planning and Probate Sections. She has assisted many clients throughout her years as an attorney; in tailoring their estate plans to meet their concerns and to accomplish their goals.

For questions on this article or other questions on legal issues, call Deanna at 480-505-7044 or e-mail drecker@winsorlaw.com or visit www.WinsorLaw.com.

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Ready For A Miracle?

Barb Feth, PT, MBA

Are you ready for a miracle? Got 30 minutes to spare? Research shows that 30 minutes of daily moderate aerobic exercise yields the following miracles:
• Reduce your risk of heart attack and stroke
• Reduce your risk for developing diabetes and high blood pressure
• Enhance your immune system
• Reduce or relieve muscle pain and fibromyalgia
• Build strong bones
• Lose weight, increase muscle
• Increase your energy
• Increase your circulation
• Reduce your risk for depression

So why don’t we do it? Here are some excuses:
• Too tired
• I’m out of shape
• I can’t afford it
• Too busy
• Too fat
• I hurt too much
• Severe arthritis
• My bones will break
• Paralysis
• Stroke
• I don’t know how
• Too hot
• Neighborhood is unsafe

Well, guess what? There is an answer for each excuse. Since exercise gives you energy, being tired is a reason, not an excuse! Ditto for out of shape or too fat. If it’s too hot or unsafe in your neighborhood, go mall walking! Ride an Exercycle in a local gym! If pain or special conditions keep you from exercising, there are numerous specialty programs for chronic conditions. Maricopa Community Colleges offer specialized gym programs for people with disabilities. New exercise technology helps you gain the benefits of exercise while protecting joints and bones and/or monitoring for heart rate and blood pressure. Your neighborhood physical therapist and occupational therapist can be consulted to develop a custom program designed to meet your needs.

At HEALTHSOUTH Scottsdale Rehabilitation Hospital, we have arthritis aquatic classes, Parkinson disease exercise classes, and aquatic classes for pain and Parkinson disease. We also have a specialized personal trainer who can help with individualized exercise training for people with severe and chronic illnesses.

NOW ARE YOU READY FOR A MIRACLE? For more information about this article and other technologies to aid in recovery from all types of neurological conditions, such as, stroke, head or spinal injuries, please call HEALTHSOUTH Scottsdale Rehabilitation Hospital at 480-551-5471.

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Stroke Risk Should Determine Anti-clotting Treatment
For People With Irregular Heartbeat

American College of Cardiology/American Heart Association/American Stroke Association European Society of Cardiology scientific statement:

Risk factors for stroke should be used to determine whether anti-clotting therapy is given to people with an irregular heartbeat called atrial fibrillation (AF), according to revised Guidelines for the Management of Patients with Atrial Fibrillation released today by the American College of Cardiology, American Heart Association and the European Society of Cardiology. Atrial fibrillation (AF) is the most common heart rhythm disturbance and it increases the risk for stroke, heart failure and all-cause death, especially in women. Presently AF affects more than 2 million Americans and 4.5 million Europeans, according to the joint statement. The number of patients with atrial fibrillation is expected to increase even more due to an aging population, a rising number of people with chronic heart disease and improved diagnostic possibilities.

During AF, the heart’s two upper chambers (the atria) quiver instead of beating effectively. Blood isn’t pumped completely out of them, so it may pool and clot. If a piece of a blood clot in the atria leaves the heart and lodges in an artery in the brain, a stroke results. Moreover, when the very rapid electrical signals from the atria reach the lower chambers of the heart (the ventricles) they start to beat quickly and irregularly, causing palpitations and decreased blood pumping, leading to tiredness and breathlessness.

Previous guidelines published in 2001 recommended using several patient characteristics – age, gender, and heart disease risk and concurrent conditions – to decide proper anti-clotting therapy for these patients. The new approach recommends that the risk for stroke should be the main factor, said Valentin Fuster, M.D., Ph.D. “We focused on stroke risk because AF is associated with increased long-term risk for stroke,” he said. “About 15 percent to 20 percent of strokes occur in people with AF, and those strokes are especially large and disabling. “Incorporating existing recommendations on anti-clotting therapy from the stroke primary prevention guidelines will streamline patient care and make recommendations clearer for physicians,” he said.

The revised guidelines also recommend daily aspirin therapy (81–325 mg) to guard against blood clots in AF patients with no stroke risk factors. Aspirin or warfarin is recommended for those with one “moderate” risk factor (over age 75, high blood pressure, heart failure, impaired left ventricular systolic function or diabetes). Warfarin is recommended for people with any “high” risk factor previous stroke, transient ischemic attack [TIA], systematic embolism or prosthetic heart valve) or more than one moderate risk factor.

According to Lars E. Rydén, M.D., Ph.D., the guidelines help physicians prioritize the objectives of patient care according to the following steps: 1) controlling heart rate, 2) preventing clots, and, if possible, 3) correcting the rhythm disturbance. Rate control usually involves achieving a ventricular rate (pulse) of 60 to 80 beats per minute at rest and between 90 and 115 beats per minute during moderate exercise.

Also new in the guidelines, catheter ablation — a procedure that corrects irregular heartbeat with radio frequency energy — is considered “a reasonable alternative to drug therapy to treat AF in patients with little or no left atrial enlargement, and in whom drug treatments did not stop the rhythm disturbance,” Fuster said. Depending on symptoms, controlling the heart rate may be the reasonable therapy in elderly patients with persistent AF who have hypertension or heart disease, according to the joint statement.

For people under age 70, especially those with recurrent AF and no evidence of underlying heart disease, rhythm control may be the preferred approach, starting with drugs and by means of catheter ablation if medication fails to stop the attacks. Both Fuster and Rydén emphasized that “Regardless of the approach, the need for anti-clotting therapy should still be based on stroke risk and not on whether proper heart rhythm is maintained.”

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Valley Leaders With A Purpose Cycling Across America

Dan McGehee, OD

“Oh, the places you’ll go!!” (Dr. Seuss). The 25th anniversary of The Race Across America seemed to be just the right time for me to give it a spin--cycling from the Pacific to the Atlantic, 3,043 miles nonstop from Oceanside, CA to Atlantic City, NJ. I had the great fortune of being a part of Emily’s Team, a 4-person mixed team, comprised of Pam and Marvin Atwood (of Chandler), Larry Burns (of Phoenix), and myself (of Mesa). Our goal was to raise awareness and donations for the Emily Center at Phoenix Children’s Hospital, a resource and support center founded in 1990 by Tom and Kathy Anderson in memory of their daughter Emily (www.theemilycenter.com).

Once we were on the bikes though, it was all about racing as fast was we could - and what an adventure that was, across the desert, through the Rocky Mountains, into the winds and rains of Kansas, through the heartland, over the Appalachians into historic Gettysburg, and on to the boardwalk of slot machines. From sea to shining sea. Oh, the people you will meet!! There is no “I” in team.

Without a great support crew, trying to get from coast to coast in 7 days by bicycle would be a nightmare. As riders, we were so incredibly fortunate to have team members with such a passion for support. Seventeen support crew in all, with friends and relatives from California, Arizona, and even Massachusetts, getting on and off our insane road show at various locations across the continent. Who would have thought I’d be sitting at the Wichita, Kansas airport picking up Dr. Nick Morrison of the Morrison Vein Institute in Scottsdale.

Yet another glutton of sleep deprivation joins the force. And the force was strong within us!! Bike mechanical problems, a nearby tornado, and the dark of night, deer in the roadway, road construction, and a blown tire on a support vehicle - nothing would slow down Emily’s Team from our rendezvous with Trump Plaza. After six days, nineteen hours and fifty-nine minutes, 110,000 feet of climbing, over 3,043 miles (we made a couple wrong turns!), and enough Cliff Bar product to feed a small army (see www.clifbar.com, we achieved our goal. We had not only won the mixed team division, but had finished third among the four male teams. What an adventure.

America is truly a beautiful country, rich in diversity, and filled with some of the nicest people in the world. If you really like cycling, I cannot recommend a better “vacation” (www.raceacrossamerica.org). “Your mountain is waiting.

So…get on your way!“ I’m going to catch up on my sleep!! Publisher’s Note: Dr. Dan McGehee (Swagel Wootton Hiatt Eye Center) and Dr. Nick Morrison (Morrison Vein Institute) are regular contributors to Quality Lifestyle Magazine.