Durable Power of Attorney For Financial Decisions
There are many types of Powers of Attorney. The Power of Attorney is designed to work only upon the lifetime of the person that is executing the “power” and can be a General Power of Attorney which has the ability to give someone else over the age of 18 the ability to sign for the person with the power of attorney in any event. There are Special Powers of Attorney for special events such as only for the sale of your home and then there is the Durable Power of Attorney which only works upon the individual’s incapacity.
A Power of Attorney is a document that gives a person of your choosing, over the age of 18, the power to sign documents, file your taxes, and make other financial decisions on your behalf if you become legally incapable of doing so.
If you are incapacitated and do not have Durable Power of Attorney for Financial Decisions, then a Conservatorship proceeding must be commenced through the Probate Court system for appointment of a conservator to take responsibility for your estate.
Having a properly executed Power of Attorney will ensure continued management of your financial affairs if you become incapacitated without unnecessary court involvement and excessive costs and fees.
If you, or someone you know is in need of the above-mentioned legal services, please call our San Diego office at (619) 683-2545 to schedule a free, no obligation, one-on-one consultation with one of our experienced Estate Planning lawyers to discuss your legal needs. You can also contact us through our contact page!