A power of attorney is a legal device that is used to empower someone to act on your behalf. If you are the individual who is creating the power of attorney, you are known as the grantor or principal. The individual that is empowered to act on your behalf would be the agent or attorney-in-fact. […]
When you are planning ahead for retirement you should consider the twilight years that will follow your active retirement years. With this in mind, you may want to consider the possibility of incapacitation. Incapacity Among Elders Incapacity is quite common among elder Americans. The most common cause of incapacity is Alzheimer’s disease. If you are […]
Powers of attorney are used in the field of estate planning to account for the possibility of incapacity. A comprehensive estate plan should address the condition that you may be in prior to passing away. You may become unable to handle your own affairs late in your life. If you execute a power of attorney, […]
Have you ever asked yourself who would manage your property in the event of your incapacitation? If you do nothing to name your own financial decision-maker, people who have an interest in your affairs could petition the court to appoint a conservator to act in your behalf. Click here to view a larger image.
Incapacity planning is important if you want to be comprehensively prepared for the future. When you decide to include an incapacity planning component within your broader estate plan you may want to consider the execution of a durable power of attorney. What Are the Advantages? A power of attorney is used to name someone else […]