Are you thinking of estate planning now, so that when the time comes your affairs are in order and you have representatives that will take care of them for you, should you pass in an untimely death or become incapacitated? If so, it might be time to contact a lawyer in Raleigh NC.
Contacting a lawyer to help with estate planning will help you ensure that you include everything that’s needed for estate plans. Wills, trusts, power of attorney, and other things are important to include if they’re needed. Over the course of the next several blog posts, our lawyer in Raleigh NC will begin discussing documents that might be included in an estate plan and what they’re used for so that you’ll be more familiar with the ins and outs of estate planning. Today, we are going to discuss a durable power of attorney and its purpose.
What is a Durable Power of Attorney? | Lawyer in Raleigh NC
A durable power of attorney is a written document that enables a senior citizen to assign a representative to handle their affairs in matters of health, legal and financial responsibilities in the event of their incapacitation or death. A durable power of attorney might be assigned to a family member, friend or spouse.
In order to ensure your durable power of attorney is valid, it should be documented before any troublesome issues begin taking place. You should be capable of deciding to pursue a durable power of attorney, before actually needing one. In addition, you must be considered in “sound of mind” before having the durable power of attorney written. Waiting until you’ve begun to develop signs of Dementia or Alzheimer’s might leave you unable to appoint a durable power of attorney.
Durable powers of attorney can be written so that when responsibilities are ready to be transferred, they might occur immediately. If you are able to care for yourself and your responsibilities at the time the document is created, you can place a specific time or situation in the document, in which the durable power of attorney takes over. It’s impossible to know when you might need a power of attorney. This option might be best for your situation.
If you're ready to get started drafting a durable power of attorney for your estate plan, contact Eldreth Law Firm, estate lawyers in Raleigh NC. We are here to help explain the complex details of estate planning so that you might better understand them.
If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our estate lawyers in Raleigh NC are here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our lawyer in Raleigh NC to get started estate planning, today.