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Have you considered a general power of attorney or similar powers of attorney documents to include in your estate plan? A power of attorney document allows you to entrust a person (often referred to as your agent) to act on your behalf in making important financial decisions when you are unable to handle your own affairs. Agents you entrust with the authority to control your financial affairs and other important matters should be individuals you trust completely, such as a spouse or other close family member.
Our law firm handles all sorts of estate law matters, including writing, reviewing, and revoking powers of attorney documents. As your legal representatives, we will answer your questions and concerns in an effort to help you better understand what a power of attorney is and how it could benefit you, your family, and your business interests.
To learn more about the many benefits of a power of attorney, please get in touch with our Connecticut law firm to schedule your initial consultation today.
Why Should You Have a Power of Attorney?
If you are ever unable to handle your own affairs due to incapacitation caused by serious illness or injury, a power of attorney document gives your entrusted agent the ability to manage your financial institutions and wealth management concerns according to your wishes. This document must be written prior to incapacitation.
Without a power of attorney, your spouse or family members may have to go to probate court and seek the appointment of a conservator who would then have the authority to control your banks, financial institutions, and digital assets.
What Are the Different Types of Powers of Attorney Documents?
There are several different types of powers of attorney. In Connecticut, every power of attorney is considered durable unless stated otherwise or unless you decide to revoke it.
With a limited power of attorney, you give another person the ability to act for you, but only for a limited purpose.
The general power of attorney is the most comprehensive POA, providing your agent with the same rights and powers that you have in service of your interests.
Similar to a general power of attorney is the springing power of attorney. This document allows your agent to act in a comprehensive manner, but this power of attorney is only executed after you become incapacitated.
How to Choose the Right Agent?
When you create a power of attorney, you must choose the right person to handle your financial affairs as your agent. They must be responsible, level-headed, intelligent, able to make financially sound decisions, and completely trustworthy.
If your agent does not share your values, they may not exercise their authority as you intended. For legal assistance selecting the proper power of attorney agent, don’t hesitate to get in touch with our law firm.
Contact Our Connecticut Law Firm to Schedule Your Initial Consultation Today
If you are looking to draft, revise, or revoke a power of attorney document, consult the attorneys of our Connecticut law firm for legal guidance. We have extensive experience assisting clients with complex estate matters and would be proud to represent your interests in creating a power of attorney document.
To schedule your case review, please contact our law offices located in New Britain and Avon, CT. To reach our New Britain law office, please call 860-854-3809. To contact our Avon office, please phone us at 860-854-3545.
