Powers of Attorney
Estate Planning Tip:  Many people are unaware of the need for a durable power of attorney until they actually need one.  By then, it is typically too late.  A court proceeding will be necessary to handle the affairs of the person who needs assistance.  A properly drafted durable power of attorney can alleviate the need for lengthy court proceedings.  It is clearly one of the most important estate planning documents that make up your estate plan.
Perhaps one of the most forgotten estate planning tools is the durable power of attorney.  The power of attorney is a legal document that allows you to designate who can act for you in case of your incompetence.

For example, if your spouse has become mentally incompetent due to an accident or illness, and you wish to sell the family home so that you can move closer to your spouse's family, someone has to be able to sign the closing papers on your spouse's behalf.  Just because you are legally married does not give you the right to sign for him or her.

Without a durable power of attorney, a conservator would have to be appointed by the probate court.  This typically requires a probate court hearing and testimony from medical professionals.

Please feel free to contact our office should you have additional questions about power of attorneys and the benefits they could provide to you.

 

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