A power of attorney form allows an individual (principal) to appoint an agent (attorney-in-fact) to make decisions and handle affairs on their behalf. An agent can handle a wide range of matters, including financial, medical, guardianship, or tax-related duties.
Simply download this .doc and .pdf format template, as an example, and complete all your paperwork by yourself without hiring a lawyer.
Top 10 benefits of Power of Attorney:
• without them, you lose control
• avoids the necessity of getting the court involved
• provides family members a good opportunity to discuss wishes and desires
• the more comprehensive the power of attorney, the better
• prevents questions about the principal’s intent
• prevents delays in asset protection planning
• protects the agent from claims of financial abuse
• allows agents to talk to other agencies
• allows an agent to perform planning and transactions to make the principal eligible for public benefits
• provides peace of mind for everyone involved
Which benefits are most important depends on the situation of the principal and their loved ones. This is why a comprehensive power of attorney is so essential: Nobody can predict exactly which powers will be needed in the future.