GENERAL DURABLE POWER OF ATTORNEY

With all of the focus on avoiding probate, health care and medical issues, many people forget financial issues that can arise when someone becomes incapacitated. This is a problem that often occurs when one spouse develops dementia but still has assets in his or her individual or joint names.

Without a durable power of attorney the well spouse is helpless to manage those assets or to use them to help cover the loved one's care. In such cases, the courts have to determine guardianship of the incapacitated person, which is not only a privacy-invading procedure but is also expensive and emotionally draining for the family.

All of this can be avoided with a Living Trust coupled with a durable power of attorney. With a durable power of attorney you appoint someone (usually the spouse) to make certain financial decisions on your behalf. This could involve filing tax returns, managing retirement accounts, and deal with various state and federal government agencies when necessary.

We provide a General Durable Power of Attorney, at no charge, with every revocable living trust structure we prepare for our clients.