Durable Power Of Attorney Explained
In this article, you will learn:
- How the powers of attorney can help an estate plan
- How the durable and medical powers of attorney provide different benefits
A durable power of attorney is for finances, and we do a lot of the durable power of attorneys at my office. You can name an agent to act on your behalf for your finances, and we can custom-tailor the durable power of attorney to the client’s needs. Maybe they just need the financial power of attorney just for a specific asset or just a specific time. We can do all that at our office. You don’t only need one if you feel that you aren’t going to become disabled or sick or hurt, it’s a living document and what’s great about it, It can be changed. It is a really neat tool to have in case you get hurt or sick because your agent can act on your behalf.
Medical Power Of Attorney Explained
A medical power of attorney is the healthcare power of attorney. We also do the living will with the healthcare power of attorney, and that’s where we name your agent who will act on your behalf for your medical decisions. We also do the living will where we name contacts for the healthcare decisions. So, does everyone in Ohio need one? Absolutely. Everybody is going to be sick or hurt at some point in their life, and it’s best to have the top attorneys so that way the doctor’s office or the hospital knows who to contact when you’re not able to take care of yourself or make decisions on your own.
How The Financial Power Of Attorney Bolsters An Estate Plan
The financial power of attorney is called the durable power of attorney. So, you name your agents, whoever you want it to be, and we name a backup agent who acts on your behalf for your financial matters and decisions. Like I said, we can custom-tailor it to be something very simple or we can give them raw authority over all of your assets. So, it’s a really neat tool that you can use to make somebody whole to arrange your finances when you’re not able to.
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