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Reasons to name a power of attorney

On Behalf of | Aug 25, 2018 | Estate Planning |

We have gone over many different decisions that people make with regard to their estate and in this post, we will take a closer look at naming a power of attorney. There are a variety of reasons why you may come to the conclusion that this is the right option for you. For example, you could be struggling with a health issue that will leave you unable to handle important affairs. Our law office knows how essential it is for people in Wakefield and across the rest of Massachusetts to ensure that their affairs are properly managed in the event that an unexpected crisis arises or a health problem renders someone incapable of these duties.

When someone is given power of attorney responsibilities, they may be in charge of another person’s investments, bank transactions, taxes, bills or insurance. Even if you are fully capable of handling these responsibilities on your own, you could want to have peace of mind knowing that you have an agent to handle your affairs in the event that you become incompetent or incapacitated for any reason. On the other hand, you may know that in the not-too-distant future you will not be able to take care of these responsibilities. Either way, a power of attorney could be the lifeline that you are counting on.

Before you move forward, it is extremely important to thoroughly understand your different options. For example, you should make sure that the person who you name power of attorney is fully capable of handling these responsibilities.