(Redmond/Estate Planning) Father Time and the Power of Attorney
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(Redmond/Estate Planning) Father Time and the Power of Attorney
There is an old adage in sports, which states that "Father Time is undefeated." In other words, getting older is one area in your life that you cannot control. Unfortuantely, with age, there are more risks and complications relating to your mind and body. As Father Time takes his toll, who will help you in handling your affairs? For those who are unprepared, more than likely, your local Superior Court will be in charge. Estate Planning can help you prepare and avoid a court appointed guardianship and the costly fees involved.
Along with the simple will, the durable power of attorney is one of the most common approaches to protecting your body and property as you get older. This document give someone of your choosing the legal authority to handle your fiancial and daily affairs. Typically, you would require a doctor's letter proclaiming that you are unable to perform your normal duties on your own.
A power of attorney may just include people they trust on their bank accounts or include them on a deed for their home. These powers of attorney grant the right to sign checks, pay bills, or perform other legal duties required for a home. A power of attorney doesn't eradicate your rights, but it allows you to control, who, when, and how you are assisted as you age. At Magnuson Lowell we can help you with your Estate Planning and power of attorney needs - that way, you and not a judge will be in control of your future.