Welcome back. Our estate lawyer in Cary NC is here to talk more about durable powers of attorney and why you may need to consider adding one or more to your estate plan.
Durable Powers of Attorney | Estate lawyer in Cary NC
In our previous blog we talked about a healthcare power of attorney. If you missed it, visit back to learn more. Another type of power of attorney deals with financials. Just like choosing to have someone over see your medical emergencies, it's also key to choose someone to take care of Financial affairs, as well. You might use a trusted loved one that is a family member or friend in the situation, as well as you would for a medical power of attorney.
A durable power of attorney for financials can make decisions based on investments, taxes, assets and businesses in the event that you are incapacitated and cannot do so.
In situations where there is no durable power of attorney for finances, it's possible the assets may be frozen until the court decides on someone to make decisions for you. Because this is the case, it's important to choose someone to add into your estate plan so that you have control over your affairs and who takes care of them when you cannot.
In some cases, the durable power of attorney for healthcare and durable power of attorney for finances maybe the same person. In other cases, different people are chosen for each role. This is a decision you should consider and make based on your preference and needs. Often times, an estate lawyer in Cary NC can help you consider the best option for you.
If you have any questions or concerns about durable powers of attorney, feel free to contact us. We are here to help you plan your future so that your medical needs and assets are protected in the event that you become incapacitated.
Estate planning is important. It’s a way to ensure your loved ones are cared for after you’ve passed. It’s also a way to make sure your best interests are taken care of, as well. It’s important that one not pass without having these documents created. Doing so can result in a court case that will leave your loved ones stuck in probate court. This could be not only time consuming but expensive as well.
Remember, 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 lawyer in Cary is 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 office.
As always, feel free to contact us at our office to schedule a consultation with if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and DWI issues.