Plan Now To Protect Your Health And Financial Security
One of the most important tools in advanced planning is the durable power of attorney. In a comprehensive estate plan, durable power of attorney gives authority to someone else to deal with your finances if you are unable to. In most cases, the creation of a durable power of attorney through a will is a cost-effective way to prepare for your financial future in the event of incapacitation.
At Spano & Dawicki, LLC, in Boston, Massachusetts, we are leaders in estate planning, and can effectively prepare a will and vehicle to protect your financial interests into the future.
What Is A Power Of Attorney Designation?
The durable power of attorney (DPA) involves your real property and personal affairs. It allows you to designate an agent, also known as an “attorney-in-fact,” to act on your behalf if you are unable to manage your own financial affairs.
Before designating a DPA, you should fully trust this agent and be certain that in an emergency or if you are incapacitated, he or she will act on your behalf. There is always the potential for financial abuse, so it is important that a DPA is someone who will act in your best interests.
Financial power of attorney or durable power of attorney gives legal authority to:
- Manage your bank accounts
- Handle stocks and bonds
- Pay bills
- Manage your financial life
- Make important planning decisions
What Happens If You Do Not Have A Durable Power Of Attorney?
If you become incapacitated and do not have a DPA designated on your behalf, a court proceeding may be held to gain authority over your financial affairs, and a conservator or guardian may be assigned. Remember that this alternative is far more costly and can be more complicated, so planning ahead is always advantageous both for you and your family. It is always a good idea to have a certified elder law attorney or a Boston lawyer review your case.
Where can you turn for experienced legal advice? Call us at 781-231-7800 or contact our Boston, Massachusetts, durable power of attorney lawyers by email to arrange an initial consultation or case evaluation.
Our office is conveniently located at the intersection of Route 1 and the Lynn Fells Parkway and is only minutes from Logan Airport, downtown Boston, and Routes 93, 95 and 128. Credit cards accepted.