Financial Power of Attorney – Everyone Needs One!
A durable financial power of attorney should be a document everyone has. It is a common document that should be included with either a will based estate plan or a revocable living trust based estate plan.
The purpose behind a durable financial power of attorney is to avoid have the court get involved in your financial affairs if you became disabled or incapacitated.
A financial power of attorney allows you to appoint, privately, an agent who would make and manage all of your financial affairs if you were unable to do so yourself. A financial power of attorney can be made effective on the date that it is signed, whether you are or are not disabled, or only upon disability, which is the preference for most people.
A properly drafted and executed financial power of attorney will enable your family to take care of all your financial affairs without having to seek a conservatorship, which is also known as a “living probate,” where the court, through a court appointed conservator, has full control over your financial affairs.
Please contact estate planning attorney, Kenneth Barney at (480) 833-1113 to schedule your appointment for more information about obtaining or updating your durable financial power of attorney, or use the form below to send him an email.