When you draft a power of attorney, you empower another individual to make decisions on your behalf in the event that you are incapacitated due to illness or injury. Generally, power of attorney designations are used for two specific purposes. A power of attorney may...
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Powers Of Attorney
Why should you not ask your child to be your power of attorney?
When it comes to estate planning, one fundamental aspect of it is having in place a power of attorney. The purpose is to make sure that you’re looked after both financially and medically when you are no longer able to do so yourself. Often the first person that comes...
Should you include a power of attorney in your estate plan?
It pays to be proactive in life, especially when it comes to planning your estate. With a properly executed estate plan, you can have peace of mind knowing that the wealth you’ve worked your entire life to build will be managed according to your wishes after you’ve...
The importance of choosing the right health care agent
One of the most important documents in your estate plan may be your advance health care directive. In Colorado, there’s more than one type of form you can use for this, including a living will. Regardless of the document(s) you choose, it’s crucial that you make your...
3 reasons to change the agent named as a power of attorney
Those who want to protect themselves and their families from unforeseeable emergencies often add living documents to their estate plans in addition to testamentary documents. For example, powers of attorney designations are beneficial for those who worry about who...
What are the most desired traits for a POA?
When you’re making your estate plans, a critical part of the decisions you need to make is who you should grant your powers of attorney (POAs). Your power of attorney is someone you give the right to make medical or financial decisions (or both) for you in the event...
2 things to discuss with your medical POA
Estate planning isn’t only focused on what happens to your assets or your remains after you die – it’s also about what could happen if you’re suddenly incapacitated due to an illness or injury. It’s not at all uncommon for someone to need their medical power of...
How does a power of attorney work?
When you are physically or mentally incapacitated, you need someone to handle your affairs and make decisions for you. Many assume that their family members will automatically take over this role. However, without proper legal authorization, it may not be so...
How can you prevent people from misusing a power of attorney?
If there is one reason that the average person doesn't have a power of attorney, it is probably that signing away some of their authority makes them nervous. Many people don't like the idea of giving someone else the power and legal authority to make their medical...
What is a financial power of attorney?
There are many components in a comprehensive estate plan. While many people think about the will and trusts, the power of attorney designations should receive equal attention. As part of your estate plan, you need to establish a financial power of attorney...