Reasons to Have a Lasting Power of Attorney
It is quite common for people to turn over their belongings to a trusted friend or family member just in case something horrible were to happen to them. This is called a power of attorney. Basically, what this means is that if we were ever to get too sick to handle our affairs, a trusted friend or family member would be able to take over our bank account as well as other items that we may have. They would be able to sign a check in our behalf. They would usually be required to be on our bank account so that they could withdraw funds in order to take care of our affairs. It feels good to know that we can turn everything over to someone else just in case.
Of course, we would not have to worry about doing all of the necessary paperwork on our deathbed. Instead, we would take care of the paperwork ahead of time. By doing this, we would know for certain that everything would be in proper order. There are many cases where only one person in the marriage has been named on the deed of the home. If that person were to pass away, the other person may be required to leave the home forever. This would be devastating to think that the home we had lived in for our entire married life could be gone from our life in the blink of an eye. This is one of the reasons why it is so important to have a family law attorney take over the situation so that we can name someone as a power of attorney over our affairs.
Most people are under the impression that they have a lot of time left in this world. Therefore, they take their time and they wait until they think that their life is going to be ending before they decide to take action. This is never a good idea. We never know when we are going to be involved in an automobile accident or some other accident or event. Our life could change quite drastically before we ever knew what happened.
We can name anyone we like as our power of attorney. It could be a friend or family member or even a next-door neighbor. It is important to make a wise decision when deciding who to choose. After all, this person is going to have access to all of our personal affairs. We want to make sure that our home as well as our family are completely taken care of. We should also assign someone to take care of our young children just in case anything were to ever happen.
Darlingtons Solicitors provide cost effective legal advice on power of attorney if you require further assistance.