Contact Walk-In Wills today for help with will and trust creation, probate, long-term care planning, and other essential estate planning needs.
Wills and trusts ensure that your assets are handled correctly after you’re gone, but can estate planning help while you’re still alive? Financial powers of attorney are a type of estate planning tool that can benefit you during your life by ensuring your finances are managed correctly if you can no longer do so on your own.
Walk-In Wills can help you with this and other matters, regardless of the size or complexity of your estate. By establishing a financial power of attorney, you can rest easy knowing that your finances will be in good hands.
A power of attorney imbues another person with authority over your finances. For instance, should you be incapacitated by a severe illness or injury, your personal representative or agent could handle your finances while you’re unable to. This can entail selling property, paying bills, and making other financial decisions.
Some people, typically senior citizens, will establish a power of attorney to get assistance with their finances. However, these documents are no longer relevant if that person becomes incapacitated. Conversely, a durable power of attorney remains active when a person is incapacitated.
Establishing a financial power of attorney is crucial for your peace of mind, but selecting the right agent is equally so. That’s why our estate planning attorneys at Walk-In Wills recommend choosing a person with the following attributes:
When making your decision, consider how the person manages their own finances. Are they thoughtful when spending money? Or do they tend to spend frivolously?
Location is another factor to consider. Your agent may need to act quickly if you suddenly fall ill or experience a serious injury. Accordingly, it’s smart to choose a person who lives relatively nearby. However, the qualities of the candidate should supersede any concerns about location.
Since 2003, Walk-In Wills has helped people make the best decisions when it comes to serious estate planning matters. We proudly serve residents of Mesa, AZ, but we can also help clients in Apache Junction, Fountain Hills, and surrounding areas.
