Plan for Unforeseen Circumstances with a Power of Attorney
Knowing that one day you might lose the ability to make effective decisions and communicate your wishes to your loved ones is a disturbing thought but one that could happen when you least expect it. At that point in your life, you would have to rely on those around you to care for your interests and execute the desires of your heart. Planning ahead and preparing for unexpected circumstances can make the process of your affairs easier to manage. If you work with a co-op legal service agency to develop a power of attorney, you can name a person of integrity and honesty to conduct your property and financial matters for you. This person should be very familiar with your views and beliefs about everyday events and how you would handle a particular circumstance if it arose in your life. This legal document enables you to entrust your affairs to someone that is meaningful in your life and who shares your values and commitments to responsible care.
What an is meant by providing power of attorney to someone
Providing legal authority to someone that you and your legal service specialist develop should reflect your wishes and needs so that you may be satisfied that your matters are being handled in an acceptable and adequate way. You can state how may want for your personal belongings, your financial holdings, the property in your possession, and your family affairs to be handled if it becomes impossible for you to do that on your own. You can also include any health-related issues, experimental treatments, and resuscitation attempts that should be made if you were to suffer cardiac arrest in the lasting power of attorney.
Who is Protected
Offering legal authority to someone can be to protect your loved ones when they rely solely on your income of profits from your assets. Your spouse or legal partner cannot access accounts that were opened in your name only; they also cannot claim benefits from the state if you have all of the savings or income listed in your name. This snafu can cause them to suffer from lack of funds for basic needs that come from being unable to access accounts. You should consider the age, health, and ability of your loved ones to support themselves if something happened to you; an experienced legal service specialist will tell you that naming a responsible person to handle your money and assets can be very important to those who depend on you for their basic needs.
What Can Be Protected
Putting an enduring power of attorney in place can protect the home that you share with your loved ones; a trusted individual can transfer funds to cover mortgage payments, make the insurance payments, and cover the daily expenses of operating a family residence. This person that you select can arrange special care if your health declines to the point that you need round-the-clock care, and can adequately protect your home for the family that you so dearly love. With a power of attorney is in place, you’ll have the satisfaction and peace of knowing that all is being taken care of if you become unable to care for those around you.
If you have in place a legal authorization for a person to act on your behalf, your family will be cared for, your home and assets will be protected, and your wishes will be honored by the trusted individual that you have in place to carry on your affairs when you aren’t able.