In the event you may become incapacitated and need a trusted person to manage your affairs, a power of attorney will declare who this trusted agent is. These legal documents can grant broad authority to one or more power of attorney agents to transact business or make medical decisions based on your behalf. What…
One of the most crucial components of an estate plan is a durable power of attorney. It allows someone who you appoint (your agent) to make decisions on your behalf in the event you become incapacitated. If you have not appointed an agent then your friends and family may not have the authority to make…
While Michael was waiting for his home in Texas to close, he was vacationing with friends in California. Unfortunately, he took a bad fall and ended up in a California hospital. He had his Texas powers of attorney, but the problem was that they were “springing” powers. They were only effective if Michael lost capacity.…
It makes sense that more aging Americans have completed wills and estate plans compared to younger Americans. Still, a significant number — 19 percent of those over age 72 and 42 percent of those between 53 and 71, according to survey data — lack any type of estate plan. Although managing these details can…
At some point in your life, a loved one may ask you to be their power of attorney. Your person may be planning for when they might become unable to take care of their affairs. For example, they might become disabled or incapacitated, and they would need a trusted person to step in and manage…
If there ever comes a time when you or your elder become unable to manage your finances or make health-care decisions, having a powerful “power of attorney” (POA) documents are essential, Beware if you rely only on POAs that hospitals provide, or that you have pulled off the Internet, or that you have got from…