1. Your family can avoid the expensive process of seeking a guardianship and/or conservatorship that can waste precious time and money.
2. You are in charge of “who” will be named your agent (rather than have a court appoint who will manage your affairs).
3. You leave little doubt about your intent and help eliminate potential family disagreements.
4. Your agent can quickly exercise the authority or power given to effectively protect your assets.
5. Your agent can take the steps necessary to qualify you for public benefits such as long term care benefits.
Do you have a durable Power of Attorney in place today? If you do, is it more general in nature and are you confident it will specifically empower your agent to meet your planning needs? If your power of attorney does not include certain specific powers, it will greatly reduce your agent’s ability to complete the planning necessary to protect your assets.
Please contact my office today to establish a durable power of attorney or to have any related questions you may have answered.
