This is a power given to an individual who manages your financial life when you’re not able to. If you do not have a power of attorney agent in place when you need it, a court will appoint one for you through a conservatorship proceeding. But why leave the decision to a court? Now is the best time to identify who you wish to speak and act on your behalf – be they a family member or trusted friend. You can even name different people for different types of power of attorney decisions.
Power of Attorney
Ensure You Name Your Own Power of Attorney Agent
A complete estate plan includes having a named power of attorney agent.
What is a Power of Attorney?
“My eighty-plus year-old Dad needed help planning his estate and after researching law firms, I chose Burris Law based on their great reviews. Ariana was kind, professional, knowledgeable, patient and had a sense of humor that my Dad and I appreciated. She was very patient with my Dad and took the time to answer both our questions and concerns. We left feeling very happy with our experience and would highly recommend Burris Law to anyone.”
Consider that a financial power of attorney grants someone you choose to manage your finances and property on your behalf. It is important to know that upon signing a financial power of attorney, the person you designate can act on your behalf immediately, even if you are still able to make your own financial decisions.
As a result, a popular choice for our clients is to prepare the documentation such that the power of attorney only comes into effect when a doctor determines that you are indeed incapacitated. This is referred to as a “springing” power of attorney which leaves you in control until that time may occur.