A Power of Attorney is a legal document you can use to designate someone (an Attorney‐in‐ Fact) to make financial and property decisions for youThe document must be executed in accordance with the requirements of state law. A Power of Attorney is a versatile document. It may be broad, covering all areas of interest or limited to a specific event, relationship or transaction. It may be limited in time. It may become effective only under certain specified conditions.
You should consider executing a general power of attorney designating an attorney‐in‐fact to act on your behalf in the event that you are unable to make or communicate decisions on your own due to injury or illness. In most cases, your spouse, parents, adult children and next‐of‐kin, will have no legal right or authority to make financial decisions for you if you cannot make them yourself. Banks, credit card companies and utility providers will often refuse to even talk about your affairs with those who care about you. By executing a Power of Attorney, you will ensure that your bills will continue to be paid, your loved ones will be cared and your assets will be protected.