Do you have a plan for who would handle your affairs if something happened to you? If not, now is a good time to create a plan for this possibility to give yourself and loved ones peace of mind.Â
One of the most important components of a holistic estate plan is a power of attorney. This enables you to name someone else to step in and make decisions or take actions on your behalf if you are unable to do so. A California power of attorney lawyer can help you learn more about the various protection that a power of attorney provides in multiple situations.
For example, if your parents are getting older and you are concerned about them being targeted for elder abuse like financial scams, you may want to set up yourself to have the agent’s authority or another trusted individual in that role to enable that person to handle financial affairs if your parents’ mental capacity begins to decline.Â
If you are involved in a serious accident or develop a sudden illness that leaves you unable to make decisions for yourself, your agent may be able to pay your rent and utility payments until you are able to return to do so. You may also use a power of attorney document if you own a business and enter into an agreement to acquire a smaller company but are not present on the day of to close the deal. You can authorize a power of attorney agent to sign on your behalf.
These are just a small sample of some of the reasons you may want to establish a power of attorney document. Every adult in California could benefit from working with a qualified estate planning attorney in Pasadena to help them construct an appropriate power of attorney. Contact our office today if you’d like further information.
