A Power of Attorney is an essential part of your estate plan, because it allows a designated individual to make important decisions for you in the event that you are medically incapacitated or otherwise unavailable to make important decisions. A Power of Attorney will allow your appointed representative to make business and financial decisions for you. For example, the holder of your Power of Attorney can continue paying your mortgage, healthcare costs, and other ongoing expenses from your bank account if you can’t do it yourself for any reason. A Power of Attorney also allows the holder to file tax returns on your behalf and can even permit the holder to make important decisions pertaining to your investments, which could allow you to avoid financial ruin. In short, a Power of Attorney is one of the most important documents you can have in your estate plan, because it spells out exactly who you want to make decisions on your behalf to what extent they are empowered. Thus, a Power of Attorney provides certainty and structure for your loved ones when they might need it most.
Need a power of attorney for your estate plan? Call 954-384-6114