When you begin your end of life planning, you will need to visit a wills and estates lawyer. You may already know that you will need a will and that estate planning is necessary. What you may not consider is something called an enduring power of attorney. If you have never heard of this particular form before, here are some things you should consider.
Managing Money
There are times when you may face the need to be in a medical facility for an extended period of time. During this time you may find that your health hinders you from making sound choices for your banking or money management. You may also find that you are not able to attend to issues dealing with your money such as banking errors or billing errors. An enduring power of attorney allows the person you designate to handle these issues in your place and to the way you would want them handled.
Home and Property
There are choices that may occur with your home and property. These options may be to sell the property or rent the property to cover expenses while you are in a medical facility or in another location. Your designated individual can make these choices for you after discussing what you would like. They can meet with the real estate professionals and settle any rental or sales agreements in your place.
Daily Bills and Expenses
In some cases, you may not need someone to manage your entire finances. You may simply need someone to handle your daily bills and expenses. Keep in mind that some of these bills may require your signature or for you to be the one that pays the bill directly. Your designated individual can use the enduring power of attorney to do that for you and handle these daily issues that can bog you down when you are incapacitated. This simple benefit allows you to focus on your medical decisions that are not covered under this specific power of attorney.
These are just a few of the key points regarding an enduring power of attorney. If you feel that this type of agreement may be ideal for your end of life planning and situation, discuss it with your wills and estates lawyer. They can help you with the specifics regarding drafting the document, filing the document and ensuring the document is carried out legally. They can also answer any questions you may have regarding the document and what it can do for your situation.
