Giving an individual you trust financial power of attorney over your finances is a very sound business decision. In the event that a serious injury or illness renders you incapable of administering your finances, your financial power of attorney will step in and ensure the smooth management of financial matters. Designating a financial power of attorney now will eliminate any issues that may arise if you leave your family members and loved ones with the task of establishing conservatorship or guardianship of your finances. If you would like to designate financial power of attorney or you would like to know more about the process, contact a Fremont estate planning attorney today.
Creating a durable power of attorney for finances, also called financial power of attorney, can ensure that your estate does not fall into disarray . Through a financial power of attorney, the individual entrusted with managing your finances will make sure your bills get paid and that any paperwork pertaining to your estate such those relating to insurance or benefits get handled properly. It can be a difficult and expensive process to establish conservatorship or guardianship if you should become incapacitated. The early establishment of a financial power of attorney will relieve your family from any undue stress and possible financial hardship.
At the Singh Law Firm, we know how difficult it can be on an individual’s family and financial obligations if financial power of attorney is not established. Many individuals do not realize that jointly held property cannot be sold without the authorization of both parties, even if the other party is your spouse.
A financial power of attorney will allow your trusted financial manager to step in when these situations arise and carry out your wishes. Do not get caught unprepared. We can assist you to create a financial power of attorney to ensure your wishes for the future are carried out by the individual you trust to do so.