What Are The Benefits Of Powers Of Attorney?

Powers of Attorney allow people to assign decision-making authority to a person of their choice. This assignment can be immediate, at some future point in time, or upon the occurrence of a specific event, such as the determination of incapacity

Powers of Attorney should be used as part of any estate plan to prepare for the possibility that you may lack the ability to make essential decisions for yourself. Many people find assurance in knowing that a trusted person they’ve chosen will have the authority to make financial and medical decisions for them in the event they are unable to make such decisions for themselves.

Powers of Attorney generally fall into one of two categories:

  • Financial or General Powers of Attorney — — A Financial Power of Attorney allows you to grant decision making authority for your assets and property to another person. The person you grant this power to can use it to pay bills and taxes and to otherwise manage your financial affairs. This Power of Attorney can either be limited, meaning it expires upon a specified date, or durable, which does not expire unless revoked.
  • Health Care Powers of Attorney — A Health Care Power of Attorney grants another person the right to make choices about your health care. In Arizona, a Mental Health Care Power of Attorney is also recommended, to allow your agents to seek mental health care treatment, if necessary and appropriate. Health Care Powers of Attorney can either be limited, set to expire at a specific date, or durable without an expiration date.

It can be a great relief knowing that you have chosen someone you feel comfortable with serving in that role. Choosing that person in advance also allows you to prepare that person to some degree for the responsibilities he or she will face.

Let Us Help You Round Out Your Estate Plan With Powers Of Attorney

At Lincoln & Wenk, PLLC, our firm has extensive experience and understanding in the preparation and explanation of all available Powers of Attorney in Arizona. Regardless of the situation that calls for a Power of Attorney, we are proficient in finding the tool to suit your needs. Our primary focus of providing superior levels of service to our clients means that we will do everything we can to make the process as easy — and easy to understand — as possible.

Testimonials from past clients can help you get a better understanding of the quality of representation we provide.

Wills and Trusts Attorneys Serving Goodyear, Peoria and the Phoenix Area

When you need to plan for the future, we can help you take all necessary steps. To schedule an initial consultation, call 623-748-4890 or contact us online.