Why Draft A Durable Power Of Attorney?
No one can predict what life will bring and it is important to have plans in place in the event the unexpected happens and you and your loved ones need protection. There are many important documents to draft when estate planning and a durable power of attorney (DPOA) is one of them. Below, our Daytona Beach DPOA lawyer explains the biggest benefits of drafting these documents.
Management of Your Finances
With a durable power of attorney, you name someone you trust to handle your financial matters if you are ever unable to. The person you designate is known as your agent and they have the authority to manage a number of financial matters on your behalf from ensuring your bills are paid to managing your investments. With a DPOA, you will have the reassurance that your financial matters will not be disrupted, which can prevent financial penalties, missed payments, and other consequences of not managing your finances.
Offers Peace of Mind
Knowing there is someone you trust ready to handle your legal and financial matters can bring you the peace of mind you need. If you suddenly become incapacitated, you do not have to worry about these matters being handled. You can enjoy knowing that your agent will step up and make sure that everything runs smoothly, according to your instructions and preferences. Additionally, you can also provide your family with peace of mind by drafting a DPOA. They will not have to make difficult decisions without your input. Instead, they can simply support each other and you during a difficult time.
No Need for Guardianship
If you do not draft a DPOA, your loved ones may have to go to court so a guardian can be appointed to you. This can be a long and costly process, not to mention emotionally draining. It can also create delays when legal and financial decisions must be made. A DPOA can help you and your loved ones avoid this and save the stress, time, and money associated with court proceedings.
Customized to Your Needs
DPOAs are flexible legal documents. You can give your agent broad general powers to manage your legal and financial matters, or you can limit their power to certain tasks. For example, if you are simply traveling abroad and need an investment property managed while you are away, you can appoint a DPOA for this task specifically.
Protection from Financial Exploitation
When you choose an agent, you choose someone you trust implicitly. This can provide you protection from scams and financial abuse. By appointing someone you trust, you know that your agent will always work in your best interests and that your finances are managed responsibly.
Call Our DPOA Lawyer in Daytona Beach Today
Drafting a DPOA is one of the best ways to protect your future. At Bundza & Rodriguez, our Daytona Beach DPOA lawyer can ensure that yours is executed properly so it provides the protection you need and is enforceable. Call us today at 386-252-5170 or contact us online to schedule a consultation and to learn more about how we can help with your case.
Source:
flsenate.gov/laws/statutes/2010/709.08
