Power Of Attorney Plays An Important Role In Your Estate Plan
A Durable Power of Attorney gives authority to someone else (your “agent”) to make decisions on your behalf concerning your assets, such as money and property, and decisions about your health care. The agent may use your money or sell your property without letting you know and without your approval. Your agent will have these powers immediately when you deliver an original or a photocopy of the original to the agent.
A Durable Power of Attorney is the most likely estate planning document that will be needed in the near term. For most clients, the Durable Power of Attorney is more important than a Last Will and Testament. If you do not have a Durable Power of Attorney and incapacity occurs, court proceedings may be required for someone to handle your legal and financial affairs. Whereas if you do not have a Will, the law provides for the manner in which your assets are distributed to your family, typically the same as you would provide in a Will. If you are in the hospital, your family may not be able to obtain medical information regarding your condition unless a family member has been named as agent on a Durable Power of Attorney.
At Delzer, Coulter & Bell, P.A., in Port Richey, we serve clients throughout Florida’s north Suncoast region. Our board certified attorneys can advise on all aspects of estate planning, including creating durable powers of attorney.