Appointing a power of attorney continues to be one of the most important steps a person can take when planning for the future. Accidents or a devastating illness can strike at any time, and if an emergency situation were to leave you incapacitated, who would handle your financial affairs? Unfortunately, if a person does not have the correct documentation in place, appointing an agent to take over their finances can be a lengthy and expensive process that requires months of courtroom litigation. Drafting a power of attorney document for your assets will only cost a fraction compared to waiting and letting the matter get resolved in court, which can cost multiple thousands of dollars.
What is a Power of Attorney for Assets for?
An assets management power of attorney document appoints an agent to handle financial matters if you are in a situation where you cannot make decisions for yourself. The power of attorney agent will have the power to:
• Access bank accounts
• Sign checks
• Buy and sell assets
• Pay for health care
• Make financial decisions
What Do Powers of Attorney for Assets Do?
Power of attorney documents allow the principal (you) to specify how and in what manner assets and money can be spent, which will take the uncertainty and guesswork out of an already stressful situation. A power of attorney comes in many forms and our expert team at Elder Law Services of California will walk you through the process of drafting the correct documents for your financial needs. The most important step is deciding to protect your assets before an emergency situation ever happens.
Call Elder Law Services for a Free Consultation Today
Our goal at Elder Law Services of California is to help prepare our clients for the unexpected by safeguarding their assets and providing a sense of security and peace of mind. When you are ready to explore a power of attorney for asset management, give us a call at (855) ELDER LAW to find out more information or schedule a FREE consultation with our expert team of attorneys. We look forward to serving you today!