Powers Of Attorney Info From One of San Diego’s Best Estate Planning Lawyers
Powers Of Attorney
There are so many elements to planning your estate that it can be hard to keep them all straight. Even if you’ve taken the time to create an advanced healthcare directive, will, or a living trust, you still may need to make a power of attorney (sometimes called a durable power of attorney). The Law Offices of Steven Brian Davis have over 35years of experience serving the community of Rancho Bernardo, San Diego County as estate planning lawyers and can advise you about what documents you may need.
A power of attorney allows you to authorize someone (called an “attorney-in-fact”) to manage your assets if you are incapacitated and cannot do so yourself. This person will have the same rights that you do and can pay bills on your behalf, transfer money, sell real estate, and gift money to your heirs. If you have set up a living trust, then the power of attorney will have all the same powers as your designated trustee, but that power will be extended to all of your assets including those not covered by your living trust. Estate planning lawyers will often help you to make your attorney-in-fact and your trustee the same person.
Aside from financial powers, a power of attorney can also created to extend powers specifically to health care decisions. This document is also called an advanced health care directive. In California, this specific type of power of attorney allows you to outline end of life wishes as well as designating the person who can make unanticipated decisions on your behalf.
Because a power of attorney reassigns your legal and financial rights, it is important to consult an estate planning attorney about these documents. Estate planning attorneys can advise you not only on the best way to distribute your assets, but also about having all of the correct powers of attorney to make sure your instructions are followed in the event that you are incapacitated or pass away.