Long Beach Powers Of Attorney
When people think about estate planning, they often overlook powers of attorney (POA). However, these are an important feature of a strong estate plan because they address what happens in the event of incapacity, while other estate planning components typically only deal with what happens to assets after death. At the Law Offices of Stephen E. Cockriel, we always recommend powers of attorney in order to maximize the benefits of estate planning.
Financial Powers Of Attorney
In the event of incapacity, the individual granted financial power of attorney will have the ability to handle all financial affairs. He or she will be able to cash checks, access bank accounts, pay bills and more.
Health Care Powers Of Attorney
In the event of incapacity, the individual granted health care power of attorney will be in charge of all medical decisions, including decisions about who provides treatment, what treatment will be provided, a move to a nursing home or long-term care facility and more.
Health care powers of attorney should not be confused with advance health care directives, although the two estate planning components are definitely related. In an advance health care directive, you are able to dictate what decisions should be made regarding your medical treatment if you become incapacitated, rather than allowing the individual with health care power of attorney to make those decisions on your behalf.
Why Powers Of Attorney Are Important
When an individual becomes incapacitated, the family is placed under a great deal of stress. While everyone has the best of intentions, disagreements can arise over how financial and health care matters should be dealt with. Long Beach powers of attorney minimize these disagreements by granting decision-making authority to those you trust the most.