What You Should Know: Durable Power of Attorney

Understanding power of attorney, can be a difficult task for some, but we are here to help! Many times elderly residents, or those who have become severely ill will stress about how they are going to handle their finances, or if they are physically and mentally stable enough to do so on their own. This is where Durable Power of Attorney comes in.

When selecting someone to be your Power of Attorney, ensuring that you trust them to make financial or responsible decisions on your behalf is extremely important. Once a person is legally deemed to be your Power of Attorney, they will be able to access personal files, such as bank accounts, medical records, and sign documents on your behalf.

Although you are giving a person, whether a trusted friend, or a family member control of your important accounts, it is still a good idea to stay involved to the best of your ability. If you want, and are able to sit and go over finances or documents before they are signed, it can relieve you of questions you may have about your standings.

The most important thing to ask yourself when selecting a Power of Attorney is “Do I trust this person?” If you do not trust a person, making them your Power of Attorney can cause struggles or problems down the line.

Colton Probate Law, located in Farmington Hills, Michigan,  can help you through questions or concerns you may have with Durable Power of Attorney. Call today to schedule your free consultation. 248-324-0800.

 

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