Designating A Decision-Maker With A Power Of Attorney
Powers of attorney are one of the simplest and most convenient ways for you to designate a third party to act as your agent. Powers of attorney may be limited or general. An example of a limited power of attorney is when an individual authorizes an agent to do what is necessary to sell your home. A general power of attorney is broader and gives the agent the authority to act on your behalf in every capacity. A durable power of attorney remains in effect for your life unless canceled by you in a written document.
The main reason to have a power of attorney is in the event you become disabled or incapacitated. There are two kinds of durable powers of attorney. The first takes effect immediately and the second takes effect only upon disability or incapacity. Call us to discuss which one works best in your situation. Even married couples should have these documents. Just because you are married does not mean your spouse can act on your behalf. You need a power of attorney for your spouse to do so.
Having A Power Of Attorney Can Save You Thousands In Legal Fees
If you become disabled and do not have a power of attorney, a loved one will have to petition the court for guardianship.
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You may also contact the attorneys at Wernik & Salvatore online to schedule a consultation with us to discuss your options.