You may have plans for what will happen to your assets once you are gone, but do you know who would handle your affairs should an unexpected event render you unable to manage them? Planning for unexpected circumstances includes selecting someone to manage your personal, financial, and business matters should you become incapacitated. A Durable Power of Attorney is a document that allows you to name someone to handle these matters, providing a seamless transition and ensuring peace of mind, if the unexpected were to occur.
Within this document, you, the Principal, name a trusted individual as the Agent. The Agent’s role is to handle your affairs in a prudent manner. The Agent is able to step into your shoes and engage in the same actions you would, from signing documents to managing a business. This helps to prevent unnecessary delay; saves time and money; and gives you comfort knowing someone you trust is overseeing the matters that directly effect your life. Depending on how the document is drafted, it can become effective immediately, or upon incapacity; each format has certain advantages and disadvantages.
It is essential to prepare for the unexpected by having a plan. Please contact Attorney Kayla E. Boehlen at (413) 730-4455 or kayla@law-eb.com to include a Durable Power of Attorney in your estate plan.
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