Who Has the Power?

Who Has the Power?

A critical piece of proper estate planning is making sure you have power of attorney designations for both your financial and health care matters. These documents ensure that someone you name is in control of your financial affairs when needed and has the authority to make health care decisions for you if you are unable.

A general durable power of attorney allows you to appoint a trusted person or persons to be your “attorney in fact” for financial matters. The specific powers granted are outlined within the document. The powers granted in a general durable power of attorney are immediately effective and remain in effect for life unless you revoke them.

A patient advocate designation (or durable health care power of attorney) is a document in which you nominate a person or persons to make your health care decisions if you become incapacitated and cannot advocate for yourself. This power comes into effect at your incapacity and expires at the earlier of your death or your revocation of the designation.

All well-rounded estate plans should include these documents. Without them, court proceedings would be needed to appoint someone to act on your behalf if you were to become incapacitated. The attorneys at Wright Beamer are ready to assist with all of your complete estate planning needs. Call us today at 248.477.6300.

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