Have you been thinking about starting the process of estate planning? You may want to consider choosing a power of attorney who can make decisions on your behalf. Here’s what you need to know about finding the perfect POA.
When you’re ready to start the process of estate planning, you’ll have a lot of decisions to make. You’ll need to decide who you want to name as an heir. You’ll need to consider whether you want to create a trust. You’ll even need to think about the funeral and burial arrangements you’d like. Individuals who are ready to start estate planning will also need to decide who they want to name as a power of attorney (POA). This is one of the most important decisions you’ll make when you’re planning your estate. Here’s what you need to know about making the perfect choice.
1. Consider what type of POA you want
When it comes to choosing a power of attorney, understand that you’ll need to consider what type of POA you want. There are four primary types of powers of attorney you can consider: general, limited, medical, and durable. If you simply want someone who can help you with your legal paperwork, a general power of attorney can help get the job done. A limited power of attorney enables someones to help you with a specific legal task, such as selling a house or a car. A medical power of attorney permits someone to help make medical decisions for you. Finally, a durable power of attorney is designed to allow a family member or someone you trust entirely to make choices for both your medical care and your estate should you become unable to do so yourself.
2. Select someone responsible whom you trust completely
The most important thing you can do is to consider a person who is responsible and trustworthy. This may be a spouse; however, it may be a different relative, including a child or a parent. You may even want to select a friend whom you are particularly close to. Your chosen POA will have the ability to make choices that will directly affect your life, so it’s imperative that you only choose someone who is ready for the responsibility. It’s also important to remember that in general, designating a POA is not a permanent choice. You can specify an end date for the document, which ensures that someone you designate will not be your POA forever.
3. Speak with your attorney for guidance
An experienced attorney understands the sensitive nature of estate planning and knows just how hard it can be to choose the right POA, which is why they’re willing and ready to offer you specific advice and assistance during this time. They understand exactly how specific your will needs to be, how you can create a trust for your needs, and what you need to look for in a POA.
Begin planning your estate as soon as possible. Call to schedule an appointment with an estate planning lawyer who can help you protect your loved ones.