A power of attorney may not be on the top of your mind when it comes to estate planning, but it’s a crucial document you should seriously consider making. The benefits it offers can provide you and your family with greater peace of mind, and that’s something invaluable.
Let’s take a closer look at three compelling reasons why creating a power of attorney should be part of your plan.
- Choose who will make decisions on your behalf:
By having a signed power of attorney, you’re taking proactive steps to protect yourself in the event of incapacity. Instead of leaving decisions about your well-being and finances to the court, a trusted individual appointed as your agent will step in to make decisions according to your wishes and best interests. This ensures your affairs are handled by someone you trust, avoiding potential conflicts or uncertainties.
- Protection against guardianship or conservatorship:
As mentioned earlier, it’s essential to maintain control over who makes decisions on your behalf. Without a power of attorney, if you become incapacitated, someone would have to petition the court to be appointed as your guardian or conservator. This process is time-consuming, expensive, and doesn’t guarantee the appointed person aligns with your preferences. By having a power of attorney, you can prevent the need for such proceedings and maintain control over your own affairs.
- Flexibility tailored to your needs:
A power of attorney provides you with the flexibility to customize its terms according to your specific requirements. You have the freedom to determine the scope of powers granted to your agent. Some individuals grant their agents broad authority to handle almost any matter, while others prefer a more limited approach. The choice is yours. Furthermore, you retain the right to make changes to the power of attorney during your lifetime. This ensures that it remains up to date and aligned with your evolving circumstances or preferences, such as if you wish to replace your current agent.
If you’re ready to take action and create a power of attorney, our law firm is here to assist you. You can reach us via email at info@kinghornlaw.com or by phone at 520.529.4000 to schedule a consultation with one of our experienced estate planning attorneys. We will work closely with you to craft a power of attorney and other important estate planning documents that meet your specific requirements and provide you with the peace of mind you deserve.
Remember, a power of attorney empowers you to maintain control and make decisions even in challenging circumstances. It’s a vital tool within your estate planning toolkit, and we’re here to help you navigate the process.
