The Basics Of A Power Of Attorney For Your Finances

Skilled Oldsmar estate planning attorneys help clients establish power of attorneys to protect their future interests

At some point in your life, you might have difficulty taking care of normal, daily activities. While you might have thought to have advanced directives regarding health care prepared by an estate planning attorney in Oldsmar, you might have overlooked the necessity of having someone to assist with tasks such as banking and paying bills. The attorneys at Westchase Law can prepare a power of attorney for your finances.

A financial power of attorney is a powerful document. The person that you name as your financial power of attorney will be able to sign any document just as if it were you yourself signing it. Therefore, you should carefully consider the person you choose to give this power to. Your estate planning attorney in Oldsmar can talk to you about the rights and responsibilities your representative will have so that you are in a position to make the best choice.

Another consideration for a financial power of attorney is your state of mind. A document of this magnitude cannot be signed by you if you have any type of mental issues such as dementia or Alzheimer’s disease. An estate planning attorney in Oldsmar cannot prepare or allow you to execute this power of attorney without being convinced that you are doing so with a sound mind and under your own power without coercion from another individual. If you are unable to have this document prepared and executed due to certain mental issues, a guardianship through the probate court system will need to be set up to take care of your financial issues.

While you are still in good mental and physical health, you should speak with an estate planning attorney in Oldsmar to discuss what your needs might be as you age. Contact Westchase Law to schedule an appointment with one of our experienced attorneys.