Powers Of Attorney – An Essential Part Of Your Estate Plan
If you do not appoint someone to manage your finances and your health care should you become incapacitated, you risk the court appointing someone – possibly a stranger or a distant family member – to take control over your financial affairs and your health care decisions.
With help from two basic documents, you can put those fears to rest. Every person’s estate plan – regardless of wealth – should contain a health care power of attorney and a financial power of attorney.
At the Law Office of Adam S. Bernick, in Center City Philadelphia, we make these documents part of every estate plan we create. With compassionate questions and careful listening, we create powers of attorney that are as simple or as complex as necessary to meet our clients’ goals and clearly express their wishes.
To schedule a complimentary consultation and begin creating an estate plan, contact our estate planning office to make an appointment with one of our Philadelphia powers of attorney lawyers.
Health Care Power Of Attorney Vs. Financial Power Of Attorney
A financial power of attorney is a document in which you designate a specific person to have the authority to make financial transactions and decisions on your behalf. Financial powers of attorney may be limited in scope, or they may be general – giving the designated person full control over your financial affairs.
Financial powers of attorney may also be limited in duration, or they may be infinite (these are known as durable powers of attorney). They may also be written to take effect only in the event you become disabled or otherwise incapable of making such decisions on your own behalf.
Like a financial power of attorney, a health care power of attorney designates a person to make health care decisions on your behalf if you become incapable of communicating your wishes. This person is often called the “health care agent.” Like financial powers of attorney, medical powers of attorney may be limited or general in scope.
Do you have questions about the validity of a power of attorney? Our attorneys are experienced in probate litigation and are available to give legal counsel during disputes involving powers of attorney.
Compassionate Counsel About Powers Of Attorney
To craft powers of attorney, a family should first spend some time considering all the issues and talking amongst themselves about their preferences. Our law firm can mediate these discussions, or we can provide you with basic information and leave you to make the necessary decisions in private. We will then draft sound planning documents that clearly state your wishes.