Powers of Attorney

When you give someone power of attorney, you authorize them to act on your behalf regarding legal and financial matters. Two types are important for estate-planning purposes:

Financial

With a durable power of attorney for finances, your agent will have the authority to manage your financial affairs should you become incapacitated. They will be able to pay your bills, access investment accounts and manage other matters, including the purchase and sale of property, until you are able to do so on your own.

Medical

A durable power of attorney for healthcare allows your agent to make medical decisions and access your medical information while you’re incapacitated. For instance, if your agent knows you would never want a blood transfusion, they have the authority to instruct your doctor not to perform one.

Who Needs a Power of Attorney?

Everyone! This is a basic legal document that everyone should have—it’s your “go-to” when there’s an emergency. If one of the following situations applies to you, it’s a particularly good time to get a durable power of attorney:

  • You’re planning to travel.
  • You’re moving away for college.
  • You participate in activities that could result in a serious injury, such as skydiving, rock climbing, SCUBA diving, parasailing, etc.
  • You’re recently divorced, separated, or widowed and your previous spouse is listed as your agent in your current durable power of attorney.
  • You’ve been diagnosed with a serious condition or disease, such as MS, ALS, or cancer.
  • Dementia and/or Alzheimer’s runs in your family (do not wait until you’ve been diagnosed)
  • You found a durable power of attorney form on the internet.
  • The agent in your current durable power of attorney is no longer available.
  • You currently don’t have a durable power of attorney.

Nobody wants to become incapacitated, of course, but everybody can ensure their wishes are followed and that any financial and medical actions taken will be in their best interests. Set up your durable power of attorney today.

For a free consultation, call (206) 577-7987 or submit your inquiry below.

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