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Power Of Attorney: Most Popular Estate Planning InstrumentBy Expert Author: Jonathan McArthur
Wherever a person goes for estate planning, he has an option of two main instruments- a will and a power of attorney. Most maximum number of people, power of attorney is an extremely useful, most sought after and popular instrument among the two.
Wherever a person goes for estate planning, he has an option of two main instruments- a will and a power of attorney. Most maximum number of people, power of attorney is an extremely useful, most sought after and popular instrument among the two. This has become more or less a part of many businesses and therefore we would discuss about the power of attorney in detail here.
In very simple words, power of attorney is a right you give to someone to act financially in your place due to any reason, while you are alive. There might be several reasons for creating a power of attorney. Let us have a look at some of these reasons:
A person has become incapacitated
In case a person has become laid up due to any reason, be it an injury or illness or any other reason, he/she can create a power of attorney and give a right to someone else to act financially in his/her place.
A person wants to be free of responsibility
This usually happens in family businesses. Most of the aging people, prepare a power of attorney in the names of their children to carry out the business. In a way, it is good because you dont need to worry about most of the things and your business can flourish as well.
Now, power of attorney can be prepared with ease if you have a good estate planning attorney. Though you can easily find an estate planning lawyer, but it is very important to have a trusted and professional attorney for this task. We can be your personal Sacramento Estate Planning Attorney and can help you in discussing and guiding vital details.
Power of attorney can be either limited or general. In a limited power of attorney, as the name would suggest, you can give the power of taking crucial financial decisions to someone till the time you are out of place. In limited power of attorney, the designated person can also sign cheques on your behalf. On the other hand, general power of attorney is a wide term that includes everything. It includes all the powers and rights that you have yourself. These rights and power can be vested to the other person.
While preparing the power of attorney, you need to be very cautious simply because it is a crucial part of your estate planning and there are rising number of crimes in this regard. It is here that you need a law firm that can provide you professional and experienced estate planning attorney.
The estate planning lawyer can prepare the power of attorney with you and explain you everything about it. If you need a Sacramento Estate Planning Law Firm, then you are absolutely at the right place. We can help you in all ways and can provide you the best solutions for estate planning. Your personal lawyer for estate planning can guide you in deciding the terms and conditions and laying emphasis on certain rules and regulations.
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