The Importance of a Power of Attorney
When you consider an estate plan, you may think of drafting a last will and testament and being finished. In reality, to protect your interests and those of your family, you should have a comprehensive estate plan in place that involves several legal documents. One such document is called a durable power of attorney.
What is a Power of Attorney?
There may come a time when you become mentally unable to take care of your own affairs or make decisions for yourself. Just because this happens does not mean your financial and legal obligations cease. A power of attorney designates a particular person and grants them the authority to take over your financial and legal affairs. This includes paying bills and taxes, handling business decisions, managing investments, and more. A “durable” power of attorney means that it lasts even after you become incapacitated.
You can also designate a power of attorney for healthcare, who can make decisions regarding your daily care and medical treatment. You should draft an advanced healthcare directive and living will that give instructions for your care.
Who Needs One?
Accidents and illnesses can happen at any age. Even if you believe you are too young to have a power of attorney, you could suffer a major injury and be unable to care for yourself for an extended period of time. If you do not have a power of attorney and you become incapacitated, your family may have to endure a stressful guardianship case in court. Having a power of attorney can prevent that.
Schedule a Consultation with a Seminole, FL Estate Planning Lawyer Today
At The Law Office of Julia J. McKee, Esq., we can evaluate your situation and provide advice regarding the types of estate planning documents that are right for you and your family. Please call 727.266.5783 or contact us online to set up an appointment.