There are two different powers of attorney that I recommend my clients include in a successful estate plan: Durable Financial Power of Attorney and Medical Power of Attorney. Both of these give your agent different power over your estate, but both provide you, your family, and your estate with important protections while you are alive. By taking the time and putting these powers of attorney into place, you can save your family from expensive and contentious litigation.
Powers of Attorney
Recommended Powers of Attorney
Durable Financial Power of Attorney
The Durable Financial Power of Attorney, sometimes referred to as the financial power of attorney, allows the agent to act in your capacity in regards to financial and everyday life activities. For example if you need to pay a bill, the mortgage, or dispose of property and your are unable - your agent can. Think of the headache, expense, or potential loss of property that could occur if mortgages don’t get paid timely or if you are unable to access needed funds. Placing an agent in charge of these task can make sure your family, and assets are well maintained for your heirs.
Medical Power of Attorney
Allows you to put someone else in charge of your medical decisions when you are unable. This will allow someone to get access to medical records, join you in office visits, and make medical decision on your behalf if you are unable. With advanced planning you can make that person aware of your wishes and they can make the best decisions for you.
Living Will
A Living Will is a document that allows you to communicate to your family and loved ones how to proceed with your medical care if you are no longer able to, and you are being kept alive through extraordinary measures. To put it bluntly - you can make decision of if, how, and when you would want the plug pulled. A living will is important because it allows you to clearly and expressly state what YOU want, and relieves your family of the most difficult of decisions. Our office considers this document so important that we do not charge for us to provide consultation or drafting.