The General Durable Power of Attorney (also called a Financial Power of Attorney) is a key element in estate planning. It allows a trusted person of your choosing to manage your financial matters if you become incapacitated.
This Power of Attorney isn’t just about managing assets—it’s also a vital tool for qualifying for benefits like long-term care or Medicaid, essential for costly assisted living or nursing home care. Without prior planning, you risk depleting your assets, creating financial strain for those you leave behind.
At McIntyre Elder Law, we walk you through establishing a legal plan that ensures your assets are protected and your loved ones are cared for. We’re committed to answering your questions and guiding you, securing your future amidst life’s uncertainties.
Our free handbook outlines the 10 rules that will help you protect your assets and preserve your legacy.
The person you choose must be someone you can trust and that you’re sure will always make the decision that’s best for you alone. Anyone in your family or in your life generally can be given the power of attorney.
Potential selections can include:
It’s important to choose someone who is willing and able to take on this responsibility. They should be familiar with your wishes and someone you can trust to make decisions that are in your best interest.
If you’re not sure who to choose, you can talk to an attorney about your options. They can help you understand the power of attorney process and make sure that you choose the right person for the job.
A durable power of attorney is an important part of the estate planning process, but it is only one piece. Though it assigns someone to take care of your financial, business, and legal affairs if at any time you become incapacitated, it does not apply after your death.
Make sure your estate is taken care of no matter what happens.
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