An estate plan is a necessity for nearly every person, but yours is incomplete if it does not contain a durable power of attorney (DPOA). Without it, your estate plan does not fully protect your and your loved ones’ interests. Consider having an Orange County durable power of attorney lawyer from OC Wills & Trusts prepare this critical document for you.
If you know you lack a durable power of attorney or are concerned that your existing one may not adequately guard you and your family against the unprotected, OC Wills & Trusts want to help. Speak with a California durable power of attorney lawyer from our firm today about crafting your new durable power of attorney.
Durable Power of Attorney Explained
You cannot be in multiple places at once, and you are not always able to handle your own affairs. Perhaps you are out of the country or will be undergoing a procedure that will render you unable to pay your bills and manage your assets for a period of time.
A power of attorney is the legal document you need to ensure your affairs are handled when you cannot handle them yourself.
A durable power of attorney is one type of power of attorney that gives one or more people the authority to act on your behalf. Like all powers of attorney, you or your durable power of attorney lawyer create this document while you are alive and of sound mind. It is described as “durable” because it continues to operate and be enforceable even if you later become mentally or physically incapacitated.
OC Wills & Trusts will take the time to explain powers of attorney to you so you fully understand their purpose and how they complement your estate plan. Contact us today and schedule a consultation with us.
Why a Durable Powers of Attorney Is So Crucial
Your estate plan is designed to provide you and your loved ones with certainty and clarity about how your affairs should be handled when you cannot handle them yourself. Wills and trusts do not adequately address concerns that may arise when you are still alive but unable to tend to your own affairs.
In a will, you designate someone to wrap up your affairs and distribute your assets after you die. But no administrator is appointed, and no provisions of your will are enforceable until after you pass away. Thus, a will cannot give anyone authority to do anything on your behalf while you are still living.
If you create a trust, you empower a trustee to take certain actions during your life and after you pass away. However, such actions are limited to the property that comprises the trust. Any action that the trustee takes must be in the best interests of the trust’s property, and a trustee cannot act to affect other property or personal matters.
Thus, if you do not have your durable power of attorney, a lawyer can craft an appropriate DPOA for you; you will not have someone ready to step up and handle decisions about your finances, assets, or medical care when you need it the most. A DPOA gives the person you designate the power to make these and other critical decisions for you without the need for a lengthy court process.
Decisions a Durable Power of Attorney Can Make
Like other parts of your estate plan, your durable power of attorney gives another person the powers and authority you want them to have. You get to choose what limitations, if any, you want your DPOA to recognize and respect. Common powers granted in DPOAs include:
Financial Affairs
Your power of attorney can make deposits and withdrawals from your bank accounts and ensure that certain bills, like your mortgage, are paid on time. You can also give your DPOA the ability to make investment decisions with or without guidance from others you designate.
Finally, any person acting as your DPOA can look after and care for the physical security of assets such as real property, cars, or other things of value.
Health Care Decisions
A living will tell your doctors if you do not want certain procedures, but only a DPOA can designate someone who can make decisions that are not covered by your living will.
For instance, your living will can specify that you do not want to be sustained by artificial life support, but your power of attorney can tell doctors whether you should have a specific surgery or procedure.
Contact OC Wills & Trusts and Speak to an Orange County Durable Power of Attorney Lawyer Today
Creating a durable power of attorney is easier than you might think when you have a skilled, durable power of attorney lawyer helping you. Contact the Orange County law firm of OC Wills & Trusts to get started with this simple yet critical way of protecting yourself and your family from the unforeseen.
