When it comes to estate planning, every individual situation is different and there is no “one size fits all” when it comes to planning. And there is more to estate planning than just drafting a will. When creating an estate plan, individuals should consider including other equally important, such as a power of attorney for property and medical directives, among others.
In its most stripped down form, a power of attorney for property allows you to appoint someone to manage your financial affairs if you become incapacitated. Without a power of attorney for property, a court will likely have to appoint a guardian to manage your property. That can be an expensive and time consuming process and the court may not choose the person you would prefer.
A power of attorney for health care is another important part of any estate plan. A power of attorney for health care allows you to appoint someone to make health care decisions if you are unable to make those decisions for yourself, such as setting forth whether you wish to withdraw artificial life support if you are terminally ill and in a vegetative state.
For more information related to estate planning, feel free to contact one of our attorneys at http://deblasiolawgroup.com/contact.php
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