Power of Attorney
Every adult with any assets (real estate, bank account, retirement plan such as an IRA or 401k) should have a Durable General Power of Attorney signed naming a sequence of two or three trusted individuals to handle financial affairs in case you are temporarily or permanently unable to do so. No one plans to be injured in an accident or get sick, but it happens every day.
Without a Durable General Power of Attorney in place before your incapacity, your loved ones must go to Court to obtain Guardianship & Conservatorship in a costly proceeding with annual reporting requirements to the Court.
No one has legal authority to act for a family member if that individual is unconscious or incompetent, unless they have power of attorney. This includes one spouse acting for the other, or a parent of an adult child.
A Durable General Power of Attorney grants broad powers over your assets so you need to be assured that it is drafted properly. We recommend that a Durable General Power of Attorney be included as a part of your estate plan at JD Legal Planning PLLC.