Creating a power of attorney is one of the most considerate and responsible decisions you can make. It will detail how you want matters related to your finances managed if you become incapacitated and can no longer make these decisions for yourself. Although you are not necessarily required to have an attorney assist you with the process of creating a power of attorney, having one guide you through it will ensure that it is done correctly and give you and your loved ones some peace of mind.
Why You Need a Lawyer
When you assign a person as your power of attorney, you are giving them some rather important powers, which is why it would be wise to hire an experienced legal professional to guide you through the process. Drafting a power of attorney and signing it without fully comprehending the implications, alternatives, and risks would be a great misstep. An attorney experienced in handling such matters will provide the clarity and answers you need.
Below are some of the things you can authorize your agent to do:
- Manage your business
- Cash checks
- Invest your money
- Buy or sell things on your behalf
- Sue on your behalf
- Apply for public benefits
- Manage your finances
In your power of attorney document, you may have to specify what sort of powers you are giving your agent and when they can go into effect. Although you can use broad language to give an agent a variety of powers related to your financial affairs, some are only given if specifically stated. You cannot give an agent the power to modify or create a will.
Carefully consider who you wish to give these powers to and what specific powers you want to give.
Schedule a Consultation with an Experienced Estate Planning Attorney to Get Started!
At Legacy Law Centers, our estate planning attorney will guide you through the process of creating a power of attorney and provide the advice you need to make the best choices. Our team understands the importance of this legal document and will work closely with you to create one that meets your needs.