Your Durable Power of Attorney - Right Decision for You and Your Family

Your Durable
Power of Attorney:
Make the Best Decision
for You and Your Family

In many cases, the Durable Power of Attorney can be the most important instrument in your estate plan, even more powerful than a will. It is the appointment of a person you've chosen to act in your behalf on all your financial, medical and personal decisions should you become incapacitated or incompetent. Without a Durable Power of Attorney, no one can represent you unless the courts appoints someone. That court process is time-consuming, costly and the court may not choose someone you would prefer to make important decisions on your behalf.

The person you do choose will have tremendous power over your estate. Most of the time people tend to choose family or friends to act as their Durable Power of Attorney. Is this always the best decision? No! Because of the many legalities involved, appointing a loved one to make your decisions may not be ideal for you and may become stressful to your loved one.

Although the law gives you power to impose reasonable limitations and guidelines on the actions which your attorney in fact can take, you may not be able to foresee situations that might come up. Many times people will appoint a family member that does not even reside in the same state. So much red tape can arise from a situation like this...

The person appointed in your Durable Power of Attorney can:
pay bills
deposit checks
handle taxes and file tax returns
sell stocks
invest in securities

Upon death
handle all assets and debts
distribute property to heirs and legatees
handle probate court filings
file tax returns

You can specify in your Durable Power of Attorney whether you wish to have your money invested in stocks and bonds, real estate, or simply allowed to stay safely in a bank. As a safeguard, you can direct that your representative cannot sell or encumber your house as long as you're alive.

The Durable Power of Attorney also authorizes the person you've selected to make medical and health care decisions when you're in no position to make them for yourself. This may involve making decisions on:

physicians that will care for you
medical facilities that will care for you
prohibiting the use of heroic medical efforts to sustain life artificially long after it has ceased to exist in any meaningful manner.

Your Durable
Power of Attorney: The Best Choice

Because your Durable Power of Attorney can be the most powerful tool in your Estate Plan, the best decision is to appoint a trustworthy agent that has experience in all aspects of handling estates of those that become incompetent. Find an agent that has experience in the state in which you reside and will work with your loved ones in making the best decisions.

If you would like more information on this topic, fill in the form below and click submit and we will get right back to you.

Source Finders is a Florida professional and compassionate Geriatric Care Management Service serving Palm Beach, Martin, St. Lucie, and Indian River Counties. Sign up for our Free newsletter to keep up to date on services and assistance for seniors.

Name

Email Address

Postal Address

City

State

Zipcode

Phone

Please fill in any details or questions here

The Retirement Investing Newsletter - Retire Richer, Sooner, Smarter. Start planning NOW because later may come sooner than you think!