Durable Power of Attorney for Finances

By giving another person your “Power of Attorney,” you authorize him or her to sign your name and take other actions for you concerning your assets. A “Durable” Power of Attorney remains effective even if you become incapacitated. Typically, a Durable Power of Attorney only becomes effective when you are no longer able to handle your own affairs, although it can become effective any time you choose.

With a Durable power of attorney, you can give a trusted person as little or as much authority over your finances as you like. The person you name is usually called your “agent” or “attorney-in-fact,” though he or she most definitely doesn’t have to be an attorney.

Your agent can handle mundane tasks such as sorting through your mail and depositing your Social Security checks, as well as more complex jobs like watching over your retirement accounts and other investments, or filing your tax returns.

Experienced Orange County Attorney for Durable Power of Attorney for Finances

Each Orange County attorney for Durable Power of Attorney for Finances at Modern Wealth Law focuses exclusively in the area of estate planning and powers of attorney. Modern Wealth Law attorneys prepare customized Durable Power of Attorney documents and other estate planning documents for clients with a wide range of backgrounds, assets and goals. To that end, Modern Wealth Law believes in drafting Durable Power of Attorney documents that you can understand. We will explain the complexities of the estate and gift tax laws and provide you with explanations and instructions to assist you in the continued management of your durable power of attorney. In short, Modern Wealth Law has the experience and expertise to craft Durable Power of Attorney documents and trusts of all levels of sophistication without being cost-prohibitive.

If you are interested in preparing a durable power of attorney for yourself or a loved one, contact our offices at Modern Wealth Law.