Estate planning is an essential part of everyone’s future. It may not be something you necessarily want to think about, but it is definitely something you should think about. Estate planning can help you protect the future of your assets and allow you to make sure everything runs smoothly after you pass, which can be a great burden lifted off of the shoulders of your loved ones. However, not all parts of estate planning take place after you pass away. If you become incapacitated and can no longer make decisions for yourself, who will handle your affairs? For this situation, it is important that you grant a power of attorney when creating your estate plan.
A power of attorney should be given to an individual who you trust with your finances and other important aspects of your life. If they ever actually have to act pursuant to a power of attorney because you no longer can make decisions on your own, you shouldn’t have to worry that this person will take advantage of you or your estate. They should act only in your best interests. A power of attorney can allow another to make sure all of your bills are paid, your taxes are filed, and you are being taken care of by the proper individuals.
Some people choose to appoint the person who is the power of attorney to also act as the executor of their estate upon their passing. If you need assistance creating an estate plan to protect your assets and your future, contact an experienced wills, trusts, and estates attorney today.