Many of the people who contact us think that estate planning is essentially about their assets, i.e. what happens to their personal property, bank accounts, homes, or cars when they pass on. While these are important aspects of any estate plan, another critical piece concerns something far more personal: You.
What if a catastrophic event leaves you unable to make even basic medical, financial or legal decisions? Isn't it just as important that you give your loved ones guidance on how to handle these potentially devastating situations, to make the aftermath just a little easier to bear?
If you have not prepared a power of attorney and you become incapacitated, it will be too late for you to name an attorney-in-fact. It may be difficult for your finances to be managed and the court may have to appoint a guardian. This process can be intrusive and expensive.
A durable power of attorney (POA) is the document that allows someone to designate another person to make important decisions in the event of incapacitation. POAs are among the most important estate planning documents and we encourage all our clients to have a POA in place in the event the unthinkable happens.
With a durable power of attorney, you will allow your trusted person to make decisions related to: (1) health care you receive and do not receive, (2) financial matters, including the running of a business, and (3) legal decisions, including the sale of property.
Like all estate planning documents, a general power of attorney or a health care power of attorney is fully customizable to reflect what matters most to you. You can select someone to make all-important decisions for you, or choose different people to handle your various affairs.
We listen carefully to learn your priorities and determine how to best serve your needs. Give us a call at 360.630.3635.