POWER OF ATTORNEY FOR FINANCIAL DECISIONS

A Power of Attorney is a document that allows you to nominate a person you trust to make financial decisions for you should you become incapacitated. It can be “springing” which means that it will take effect upon a decision of incapacity, usually by two board certified doctors, or it can be immediately effective. A Power of Attorney can also be limited for a specific purpose, such as you need to buy a piece of property but are not available to sign the documents, so you give an “agent” the power to stand in your place. A “Durable” Power of Attorney is one that continues its effectiveness when the person making it becomes incapacitated. It serves many useful purposes, and we advise it to be part of anyone’s sound estate plan. This along with an Advance Healthcare Directive, can help avoid a complicated and expensive court proceeding called Conservatorship.