At Tarantino Law, PLLC, we are well-versed in many different areas of law, including estate planning. When it comes to creating your estate plan, there are many things to consider, such as your last will and testament or trusts. It may seem like that are many items to take care of, but one aspect of estate planning you definitely shouldn’t overlook is a power of attorney.
If you are unfamiliar with the term, a power of attorney is a written, legal authorization that allows someone else to act in your interests when it comes to private or business purposes. If you create the document, you are the principal while the person you grant authority is called the agent or attorney-in-fact. Despite what some people assume, this is not a document intended for use after you have died. A power of attorney is void once the principal passes away, at which point important tasks like distributing assets will be the responsibility of an executor. Instead, a power of attorney is meant to give someone else the power to make decisions in your stead, usually in cases where you become incapacitated or otherwise unable to speak for yourself.
There are different types of powers of attorney, and we can help you get the right type for your needs. For instance, if you would like to give someone the authority to make financial or business decisions on your behalf, we can help you with a general power of attorney. If you only want to give someone the authority to make medical decisions for you when you are unable to do so yourself, a healthcare power of attorney is what you need.
Contact us today for more information about what a power of attorney can do for you.