Whether you read about it here on our blog or have talked to an experience estate planning professional, chances are you've been warned about the legal problems your estate can encounter if you don't take the time now to draft a good plan. But while acknowledging this concern is something all of our readers should do at least once in their lifetime, we'd also like our readers to consider how they themselves can be affected by an ill-prepared estate plan.
Take for example establishing power of attorney. As you may or may not know, this legal document is an incredibly important piece to any estate plan because it gives an individual the legal authority to manage your property and even your health care needs. A person does not have to be incapacitated in order for an individual to exert powers of attorney, though they do still have to follow the terms specified in the document.
As you may not know, the specific wording of a power of attorney document is very important because it can determine how much power an individual can exert over your estate and in what circumstances they may do so. In the case of medical powers of attorney, the same is true except instead of exerting power over your estate, you are giving someone the right to make health care decisions for you.
If you're a frequent follower on our blog, then you know that there are several types of power of attorney documents, each one granting specific rights in certain situations. But because not everyone is a regular follower of our blog, this fact may be lost on the masses. A lot of people in Florida might not realize what the power of attorney document does or which ones are best for their situation. This could leave a lot of people feeling overwhelmed when it comes time to make decisions regarding their estate plan or worse, when the unthinkable happens.
If you talk to an experienced estate planning attorney ahead of time though, you can get the information you need regarding powers of attorney and can even get help establishing the one that is right for you. Here at Frese Hansen we offer this level of service and are more than happy to help you tailor your estate plan to your needs.