When you are no longer able to manage your own affairs, you might want to name someone as power of attorney. This is a person who can handle your financial affairs and manage your estate if you have health problems and are unable to do so yourself.
Why Choose a Power of Attorney?
When you select a power of attorney, it means you are choosing a trusted person, commonly referred to as an “agent” to handle your estate and finances. The power of attorney ensures that your bills are paid, checks are deposited into your bank account and all of your important paperwork is handled. They also take care of your property when you cannot do so on your own.
Durable or Non-durable Power of Attorney
There are two types of power of attorney: durable and non-durable. A non-durable attorney is unable to act for you if you become disabled or incompetent or too ill to manage your own finances and estate. However, a durable power of attorney can handle all of your affairs, including in managing your estate. This is the type you want to ensure that your estate will be effectively taken care of when you are rendered unable to do so.
Choosing an Agent
One of the biggest concerns of power of attorney is choosing an agent. This is a person who is fully trusted and who will act in your best interests by following your explicit instructions in handling your affairs and managing your estate. It can be someone who is not necessarily related to you and your family. A power of attorney does not receive much financial compensation, and in some cases, won’t be paid at all.
Executing a Power of Attorney
Power of attorney is executed through a notary public or lawyer witnessing a loved one signing the official document naming someone in the role. The agent must be fully competent and over the age of 18 and fully understand all the terms of the position of power of attorney.
If you are in Utah and are planning to execute a power of attorney, you need Gordon Law Group to help you. Heber Utah power of attorney can assist you. Contact estate plan lawyers in Heber UT at Gordon Law Group at your earliest convenience. You can speak with a Heber Utah power of attorney lawyer to discuss your situation. Estate plan lawyers in Heber UT will assist you every step of the way to ensure your wishes are met.