What Is An Estate Planning Attorney?
- by Karl
As its name suggests, general procuration (General Power of Attorney) permits your agent to perform a variety of acts such as paying bills, managing your business and personal affairs, as well as estate planning. An Attorney or family member is often appointed, depending on the individual’s preferences and personal situation. There are several reasons to relinquish power of attorney to a lawyer or a trusted relation, but one of the most common reasons is convenience. General procuration gives an individual the freedom to travel, relocate, or focus on other responsibilities while having a capable person handle necessary affairs in their absence or stead. You simply supply the instructions to your agent who then has the power to legally perform the tasks required.
A protection that you may want from your general procuration is the “disability clause”. This clause provides that the general procuration goes into effect only when your general physician certifies that you are unable to handle your affairs. This certification is an affidavit signed by the doctor in front of a notary. This limits the use of the power of attorney until a time when your general physician agrees that you are unable to handle your affairs. This can be temporary or continue onto your passing away, in which case an estate planning attorney is often assigned the role as agent. Remember, if and when you regain your abilities, you will once again regain control after proper legal process is followed. Be aware that the general procuration does not include making health care decisions. That power is granted in a Special Limited Medical Power of Attorney.
Americans are living longer these days and are at more risk for times of incapacity. The time to protect yourself is now while you are still of sound mind, so you can specify how you would like your business and personal issues handled in case there is a time when you are not able to deal with those matters. In these cases, it is common to appoint your estate planning attorney as your agent.
There are many benefits to choosing a qualified professional over a personal relation such as a family member. While you may trust a family and friend, often times they are not equipped to handle the complexities of tasks such as amending wills and monitoring trust funds. Improperly prepared wills or financial gifts can lead to heavy taxes and inappropriately distributed funds, which can be potentially devastating to your loved ones. An estate planning attorney has the necessary skills as well as your best interest in mind, as they have no personal or emotional investment in how your affairs are to be handled.
If you are considering appointing an agent for general procuration, carefully review your options and discuss the details with a qualified lawyer, such as an estate planning attorney. They can help guide you in the right direction and ensure that you have all of the information you need to appoint an agent that will best serve your needs.
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Schneider Steven, Attorney at Law, P.S. is located in Spokane, Washington (WA).
Schneider Steven, Attorney at Law, P.S.
621 W Mallon Ave, Spokane, WA 99201
As its name suggests, general procuration (General Power of Attorney) permits your agent to perform a variety of acts such as paying bills, managing your business and personal affairs, as well as estate planning. An Attorney or family member is often appointed, depending on the individual’s preferences and personal situation. There are several reasons to…