A Durable Power of Attorney Can Legally Assist with financial matters as you age
The Power of Attorney is a legal document which assigns a trusted person to formally aid you in financial matters as you age.
Lakeshore Law & Mediation helps protect your assets with Power of Attorney documentation. Call us today! 616.844.4091
Appointing a relative or friend whom you trust very much to act on your behalf eliminates the risky process of adding names to your deeds and bank accounts. That person can aid you in writing checks, signing tax returns and managing your assets should you become unable to do so. Which is why you should trust them completely.
Adding another person’s name to your accounts, deeds or other important finances makes the person a Joint Owner of your assets. This can backfire if your designee files bankruptcy, becomes divorced, becomes a defendant in a lawsuit, or has a judgment entered against them.
Assigning a Durable Power of Attorney for financial matters ensures that your assets are protected. An experienced Estate Planning Lawyer helps you put all the information together efficiently, according to Michigan regulations.
In addition to naming someone to handle your financial affairs, you should also designate a Medical Advocate.
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