A Durable Power of Attorney provides authority for an individual you select to assume responsibility for managing your financial affairs on your behalf if you become incapacitated or are unable mentally or physically to handle your affairs. This document is important as it will allow a person of your choosing to make bank deposits, pay bills on your behalf and otherwise manage your financial affairs under circumstances and timeframes identified in the document, without the need to request permission from a court.
Talking to a Senior Member of Your Family
It can be difficult to talk with a senior loved one about the need for all of these aspects of estate planning but especially the Durable Power of Attorney. It is often difficult to admit that one needs assistance, especially from one’s children. Many seniors are uncomfortable even considering a reversal of parental and child roles. I am very familiar with this dynamic and can advise you on how to do this or speak with the senior in an effective and sensitive way about these topics.