Part of a Comprehensive Estate Plan – When Decisions Need to be Made
A Durable Power of Attorney is a legal document that gives the person you designate the ability to administer your affairs if you become physically or mentally unable to make decisions. It is an important component of any estate plan, and people often designate their spouse, adult child, sibling, or attorney as their agent in a Durable Power of Attorney. Conservatorships are another option, but require court involvement, as typically the person in need does not have the capacity to make decisions.
A Durable Power of Attorney Differs from an Advance Healthcare Directive
Advance Healthcare Directives allows the person you designate to make healthcare choices about you. Power of Attorney allows the person you designate to make decisions regarding your assets. You can designate the same person for both, but you need not do so. Having separate documents is preferred, even if the same person is named for both the advance health care directive and durable power of attorney.
Often, circumstances require creation of a Durable Power of Attorney quickly. I can draft a stand alone document or create a Durable Power of Attorney as part of your comprehensive estate plan. Email or call me at .818-347-5800.
Reasons for Use of Durable Power of Attorney
With a few exceptions, Power of Attorney lets a designee make almost any type of legal decision for a person. Examples are:
- Paying everyday expenses
- Buying, selling, maintaining, & paying debts & taxes on property
- Filing taxes
- Managing your retirement accounts
- Collecting government benefits
- Buying & selling insurance policies
- Operating a small business
- Transferring your property to a living trust
- Fling legal actions on your behalf
Contact Me About Writing a Durable Power of Attorney
If you need a stand alone document, or want a Durable Power of Attorney as part of your comprehensive estate plan, I can help. My office is conveniently located near the 101 Freeway in Woodland Hills. Evening and weekend appointments may be arranged. To schedule a consultation Email me or call .