The durable power of attorney is a legal document that allows a trusted person to act in your place if you’re incapacitated. If you are unable to act on your own due to accident or illness, they can step in to take action for you. They can pay bills, or control investments, or even make decisions about health care issues. Many people prefer to keep their medical and financial directives separate.
The durable power of attorney is different from the power of attorney. The durable power remains in effect after you become incapacitated. The person acting for you is then called your agent. Your agent does not have to be a financial expert. They’re just someone you trust completely. They could even take care of daily things for you, like opening mail and making bank deposits.
We believe everyone needs an estate plan and a durable power of attorney is one of the instruments you may want to consider as part of your plan. And be aware, if you do not make preparations for your future, the courts may have to make important decisions for you.
Let us help you prepare for the future. Give us a call today.
OakTree Premium Finance
Financial Advisor in Farmington UT
Investment planning, retirement planning and estate planning