When it comes time to plan your estate, one of the most important things that you can do is to choose someone to award power of attorney. This simply allows a trusted individual to make medical and financial decisions on your behalf if you cannot do so for any number of reasons. There are many reasons that obtaining a power of attorney are beneficial. There is a common misconception that this tool is only to be used when a person becomes incapacitated.
A power of attorney can be incredibly useful for married couples who spend a lot of time apart due to military service or frequent business travel. Depending on what the couple decides, this allows one of the spouses to handle financial transactions, real estate matters, and more on behalf of the spouse who can’t be there. It may be beneficial for spouses to obtain power of attorney for one another at the beginning of their marriage just to ensure they have a backup plan if a situation arises. For example, if the couple is buying a house together but one of the spouses can’t be at the closing to sign off on the sale, the other spouse will be able to sign on their behalf.
Of course, power of attorney is also helpful later in life if one spouse becomes incapacitated and the other can make health decisions for them. If you need an estate planning attorney to help you obtain power of attorney, contact us today.
If you require compassionate and knowledgeable legal guidance for a matter of divorce, family or estate law, please contact the experienced attorneys at the Law Offices of Cynthia L. Hanley today.