If you become sick or disabled, either temporarily or permanently, who will make decisions for you?
A Financial Power of Attorney allows you to name one or more persons to handle your financial or business affairs for you just as you would if you were handling them yourself.
Depending on your individual circumstances, you can give another person or persons all of your authority (power) or only some of your authority (powers) to act on your behalf.
This document, however, does not give someone the power to make medical decisions or health care decisions for you.
Normally, our Power of Attorney documents grant your Agent the power to handle your business or financial affairs upon you becoming incapacitated, which must be confirmed by 2 physicians. Otherwise, you maintain the control of your affairs until that time.
The agent’s Power of Attorney is terminated upon death or your written revocation.
A Power of Attorney allows you to appoint someone you trust to handle your affairs if you cannot do it yourself.
If you cannot pay bills, get records or make other decisions, your family will be prevented from helping you get treatment, pay doctors or represent you legal interests.
Without a Power of Attorney, your family may have to file a Guardianship and/or Conservatorship, seeking guardianship of the disabled person and his or her assets. This process involves Probate Court, lawyers and usually costs several thousands of dollars and significant time. A Power of Attorney costs significantly less and saves you precious time. That is why it is important that you give your family the tools to help you if you cannot help yourself.
This website is designed for general information only. The information presented at this site is not and should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
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