A Power Of Attorney Is An Essential Part Of Every Estate Plan
It is terrifying to think about a time when you cannot make decisions about your finances or health. However, if the worst should happen, having a power of attorney and medical power of attorney in place can ensure that your agent will follow your wishes.
At the Wealthestate.law, I provide comprehensive estate planning services to clients in Bend, Oregon. Coordinating a power of attorney with your estate plan can save you time, money and stress in the long run. I will review your circumstances and goals before explaining your options. Even if you do not have a terminal illness, a power of attorney is a smart measure to have in place.
The Benefits Of Establishing A Power Of Attorney
A power of attorney is a document that allows you to designate an agent to manage your finances and make financial decisions for you. A durable power of attorney is limited in scope and allows you to set boundaries over the arrangement. A general power of attorney gives your agent the ability to buy and sell property, make investments, pay bills and manage your bank accounts.
A medical power of attorney works similarly but allows your agent to make important medical decisions with your health care providers when you are incapacitated. Such decisions include life-support measures, pain control, feeding tubes and where you receive care.
A power of attorney needs to be drafted in a customized manner tailored to suit your individual needs and circumstances. At the Wealthestate.law, I will help you draft your power of attorney or medical power of attorney documents to ensure they suit your needs. You may also need a power of attorney to supplement a gifting plan to minimize estate taxes.
I Will Work With You To Establish A Power Of Attorney That Suits Your Needs
Having a power of attorney has many benefits that can give you peace of mind today and help your family in the future. When you designate a power of attorney, you will have the opportunity to relay your financial and medical wishes, taking the burden off of your loved ones.
To learn more about establishing a power of attorney for financial or medical decisions, contact me to schedule a free consultation at my Bend office. Call me at 541-597-9241 or complete my online contact form to get in touch.