Durable Power of Attorney
If you ever become sick or injured in an accident, a durable power of attorney is not an option, it's a necessity. Don't assume that your loved ones can automatically make decisions for you if you become unwell. Durable powers of attorney will empower your loved ones to make legal, tax and financial decisions for you should you become incapacitated, incompetent or unable to act on your own behalf.
The process of appointing a power of attorney is simple. Often, it's a spouse, allowing them to pay your bills, manage your investments and direct your medical care. If you are collecting benefits (Social Security, for example), your spouse, serving as the attorney-in-fact, would be able to be the recipient of those
Regardless of whom you appoint as your durable power of attorney, it can act as a powerful tool, avoiding court interference in your personal matters and forcing a judge appoint a conservator or guardian for you.
Typically, we see clients seek two powers of attorney – a medical and a financial – to eliminate any complications for you and your agent. While you can name different people for each, we recommend that both work well together to ensure your wishes are followed in such cases