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. As we travel through life, the unexpected can happen. You may find yourself abroad and need someone back home to liquidate an asset for you. Or, you may be injured, unable to manage your affairs, and need someone to pay your bills. In either case, a Power of Attorney is essential. |
This document appoints a trusted individual to manage your business affairs for you in the event you are no longer able to. Everyone needs to have a Power of Attorney signed before a life changing event occurs that renders them unable to manage their affairs. A Durable Power of Attorney allows the attorney-in-fact to continue to act even after you have lost your capacity. You should have complete trust in the person you choose as your attorney-in-fact, as he or she will act as you could act with regard to your legal and financial affairs. A Power of Attorney may be effective immediately, and may have no expiration date. It can also be drafted to limit the power to act to a certain period of time. You may appoint more than one person to act for you. In fact, you may appoint one person to act, and if they cannot, you may appoint a successor to act for you. If you choose, you may revoke the power, but to do so you must deliver a written revocation statement to the attorney-in-fact. If there is real estate involved, you may also decide to record the revocation at the local county records office for the real estate. Medical Assistance
© 2011 Grathwol Law Office. All rights reserved.
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