What is a Financial Power of Attorney?
What is a Financial Power of Attorney?• If you are incapacitated, a Financial Power of Attorney, also known as a Durable Power of Attorney, is crucial because it allows your agent that you trust to pay your bills, manage your assets, and generally attend to your affairs. • If you don't have a Power of Attorney and you become incapacitated, the court may appoint someone to serve as your conservator and guardian. This procedure is expensive, time consuming, and very stressful. • A Durable Power of Attorney is very important and is one of the least expensive tools available for estate planning. Remember, the time to execute a power of attorney is before you may need it, not when an accident or illness has already occurred. You cannot execute a Durable Power of Attorney AFTER you have become incapacitated. Chayet & Danzo, LLC is a boutique elder law, estate planning, and disability firm representing clients throughout Colorado, including the cities of Denver, Aurora, Arvada, Boulder, Vail, Edwards, Aspen, Littleton, Centennial, Castle Rock, Wheat Ridge, Thornton, Westminster, Parker, Highlands Ranch, Cherry Hills, and Longmont, and throughout Denver, Arapahoe, Adams, Boulder, Douglas, Eagle, El Paso, Jefferson, and Summit Counties. |
