Why Should I Include Powers of Attorney in an Estate Plan?

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Protect Your Family

Having powers of attorney in your estate plan is essential to ensuring that you and your family are taken care of if something happens to you. Powers of attorney provide legal authority for someone else to act on your behalf, which can help protect you from potential financial abuse or exploitation. A power of attorney also helps avoid costly delays due to lengthy court proceedings if something should happen to you. This blog will discuss why it's crucial to include powers of attorney in your estate plan and the options available.

Protecting Your Wishes

Powers of attorney are critical for protecting your wishes and allowing them to be carried out. Without powers of attorney in place, the courts can appoint someone to act on your behalf, but that person may not be someone you trust or who shares your wishes. Powers of attorney allow you to choose the person or persons you want to manage your affairs and make decisions for you.

The types of powers of attorney vary, but generally speaking, there are two main types: medical and financial. A medical power of attorney allows you to appoint someone to make medical decisions for you if you are unable to communicate your wishes. A financial power of attorney allows a trusted person to manage your finances, including bills, investments, and real estate. This document can be tailored to fit your individual needs and the scope of activities for the appointed representative.

Peace of Mind

Having powers of attorney in place provides peace of mind that someone will act on your behalf if you are unable to make your own decisions. Your family and loved ones don't have to worry about expensive court proceedings to establish who will manage your affairs. Powers of attorney are crucial to any estate plan, so you should consult with a qualified attorney who can help you understand the documents and create an estate plan tailored specifically to your needs.

At Schweitzer Law Partners, our Pasadena estate planning attorneys have the experience needed to help families create estate plans that offer future protection and peace of mind.

Learn more about how we can help with your estate planning needs or schedule a consultation by calling (626) 788-5225 or visiting us online.