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Estate Planning

Including a Power of Attorney

May 19, 2022 by Jen Schreurs


Associate Jen Schreurs regularly advises clients in the practice areas of wills, trusts, estate and incapacity planning, estate administration, and business law.

Clients of FH&P Lawyers often inquire about the Power of Attorney when it comes to their estate plan. It's an important piece and gives the authority for someone to assist in the managing of their financial and legal affairs. That said, it doesn't give a person authority over one very critical piece as Jen explains.

Transcript:

A Power of Attorney is a legal document where you give a trusted friend or family member the ability to help you with your legal and financial matters. This means helping with banking, paying bills and signing documents. It does not give them any authority over your health care.

A Power of Attorney is an important part of a well-rounded estate plan. They are often associated with aging and degenerative diseases such as dementia or Alzheimer's, which are usually situations a person can plan for in advance. Less often and more important, are the emergency situations that are impossible to predict. It could be something as small as breaking your writing wrist the day before you sign documents to purchase your house or as big as the dreaded car accident scenario.

If your estate plan is not equipped with a Power of Attorney, it can become a hassle for your family to take care of your finances. Regardless of your age or health having a Power of Attorney in place for those “just in case” moments can provide security for you and your loved ones.

For more information contact us at FH&P Lawyers today.