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Understanding Durable Powers of Attorney

If you're just beginning estate planning in Cary NC or you need to update your plan, it might be a good idea to consider or reconsider durable powers of attorney. If you missed our two previous blogs, take a look at those before moving on. They explain each type of durable powers of attorney. However, here, we will feature a recap of what each type represents.

Understanding Durable Powers of Attorney for Estate Planning in Cary NC

  • 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, a wills lawyer in Cary NC can help you consider the best option for you.

Healthcare Power of Attorney | Estate Planning Cary NC

  • A durable power of attorney for healthcare proxy should be chosen soon after you begin estate planning.
  • You can choose a family member or friend that you trust.
  • This type of power of attorney will help make decisions in the event that you are unable to do so.
  • These decisions will be medical related. For example, if you were in a car accident that left you incapacitated and unable to make decisions for yourself, the durable power of attorney for healthcare would be able to give permission to doctors and make decisions for you.
  • Considering a durable power of attorney for healthcare can be difficult. It's hard to think about tragedies that might happen in the future. However, it is important that you consider choosing to add this type of power of attorney within your estate plan. Because we never know what the future might hold, being prepared is key.

Estate Planning Cary NC
Estate planning in Cary NC 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.

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