Durable Power of Attorney for Asset Management and Personal Affairs
Discuss Your Estate Plan with Our Los Angeles Power of Attorney Lawyer
Your Power of Attorney for Property Management allows your named agent to make financial decisions about matters that the Trust does not control, in the event you become incapacitated. Examples of such matters include retirement plans, Social Security benefits, Medicare/MediCal, the IRS, performance on your individual contracts, the DMV, safe deposit boxes, claims and litigation, and any other matter not controlled by the Trust.
You may designate that this document becomes effective immediately as to your chosen agent, or you may designate that this document becomes effective only upon your incapacity. A person is considered “incapacitated” if that person is under a legal disability or is otherwise unable to give prompt and intelligent consideration to financial and administrative matters or make sound decisions about financial affairs. A determination of incapacity is generally made by either (1) two licensed physicians who certify in writing that such person is under a disability, or (2) by an order of a court.
It is important to remember that your Power of Attorney “dies” with you – it can only be used during your life and cannot be used after you pass away. This is why it is so important to consider owning your property in Trust, so that your named successor Trustee can gain access to your assets after you die.
What You Need in Addition to Powers of Attorney
While a Power of Attorney is a document used for property management, an Advance Health Care Directive is a document used for your care if you are incapacitated.
An Advance Health Care Directive is a document in which you appoint an agent who is authorized to make medical decisions for you and communicate with your doctors, health care providers, as well as carry out your wishes about termination of life support, organ donation, burial or cremation. In this document you will consent to your Agent gaining access to your medical information, and you will authorize your health care providers to give your medical records to your Agent, while releasing them from liability under State and Federal law from doing so.
How We Can Help
With nearly two decades of legal experience, Attorney Maria N. Jonsson, Esq. understands the many intricacies of Estate Planning. Our firm is prepared to help you navigate the process, providing personalized legal counsel.
If you would like to discuss your Estate plan, including setting up an Advance Health Care Directive and a Power of Attorney for Property Management, contact the Law Offices of Maria N. Jonsson, PC today.
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