Convenience:
A Power of Attorney can help you with the management of day-to-day affairs, especially if you travel frequently or have a busy schedule. You can grant a Power of Attorney to a trusted individual who can handle routine tasks on your behalf, such as paying bills, managing investments, and signing important documents, which will save you time and money while you are away.
Business Continuity:
If you are a business owner and you decide to go on a trip or become incapacitated, having a Power of Attorney in place can be essential for the smooth operation of your company. With a Power of Attorney, you can grant someone else the authority to make decisions on your behalf to sign contracts, manage investments or make financial decisions to prevent interruptions to the day-to day operations of your business.
Avoiding Court Intervention:
If you become incapacitated and you do not have a Power of Attorney in place, your loved ones may have to go to court to be appointed as your guardian or committee. Not only can this be time consuming and very expensive, but the court may appoint someone that you would not have chosen to handle your affairs.
Peace of Mind:
Having a Power of Attorney in place can provide peace of mind knowing that you have a reliable and dependable person appointed to handle your affairs if you become unable to do so. Not only will it help reduce stress knowing your affairs will be taken care of no matter what, but it can also help prevent family disputes and any outside interference because there is a clear designation of who is responsible for making decisions on your behalf.
Incapacity:
If you become incapacitated due to physical or mental health issues, illness or injury and are no longer able to make decisions for yourself, a Power of Attorney ensures that your financial and legal affairs will be taken care of, and decisions will be made in your best interest by the person you have appointed and trust.
Convinced? Call us to arrange a meeting with an estate planning lawyer at Westcoast Wills to discuss finally getting a Power of Attorney document properly prepared.
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