Durable Power of Attorney Lawyer
Many people think about preparing a will with instructions for handling their affairs after they pass away, but they don’t consider what would happen if they are injured or ill and unable to manage financial matters. Bills would go unpaid, and that would trigger a bunch of problems. Loved ones would be helpless to assist—unless the right steps had been taken in advance.
At Huizenga Law, we can create a durable financial power of attorney that allows a family member or friend to step in and manage your assets while you are incapacitated. If an emergency strikes, your family will be ready to face the storm.
How a Power of Attorney Operates
When you grant power of attorney to someone, you are giving them authority to act in your place. You don’t give away your authority—you can still make decisions, too. You simply share your authority.
The person you name is referred to as your agent. You should choose someone you trust to make sound decisions, but if you change your mind, you can always amend or revoke a power of attorney so long as you remain legally competent. You can also name an alternate to serve as your agent in case the person designated is unable to handle the role.
Power Tailored to Your Needs
A power of attorney is not a one-size-fits-all document. We develop terms to meet your specific needs and goals. For instance, you can grant someone limited authority to handle certain transactions during the dates while you are on an extended vacation. Or you can specify that the power of attorney only takes effect if a doctor declares you incapacitated.
Many people choose to execute a power of attorney to enable a family member to help them with paying bills and managing accounts. In this way, your agent has access to accounts but they do not own those accounts, so their creditors will not have recourse to them. You can limit your agent to one or two accounts or give them access to everything. We will take the time to discuss your objectives and help you determine the right power to grant.
When a Power of Attorney is Durable
In the past, a power of attorney document would become invalid when the person who granted the power became incapacitated. This made the document useless at the time it was most needed. Attorneys started preparing durable power of attorney documents that were intended to remain in force even if the grantor became incapacitated, and virtually all power of attorney documents operate this way today.
Be Ready with a Financial Power of Attorney
Accidents and serious illnesses can strike anyone at any time. For that reason, all adults should seriously consider creating a power of attorney to enable loved ones to act on their behalf in case of emergency. Individuals with the right power of attorney documents in place can save their loved ones the need to initiate costly guardianship or conservatorship proceedings in the future.
The team at Huizenga Law can create power of attorney documents to keep you prepared for whatever arises in the future. Schedule a consultation with us now to get started.