As many people grow older in California, they can deal with ailments and situations affecting their decision-making abilities. You and your loved ones can have help making crucial decisions by choosing someone to be your attorney-in-fact.
Someone who lives close by
During the estate planning process, there are usually important meetings that happen with lawyers, physicians and other professionals. If you appoint an attorney-in-fact, this person often must attend meetings on your behalf. By choosing someone who lives close to you, they can quickly participate in any meeting without delaying or canceling things.
An individual you trust
Depending on the size of your estate, you could be giving an attorney-in-fact the access to control many of your valuable assets. Someone in this role has the power to sign documents, contracts and tax returns in your name. Choosing an untrustworthy person could wreak havoc on your estate’s future. Some prefer a spouse, child or other trusted family member to manage their estates.
A person who’s good with finances
An attorney-in-fact also has the power to tend to someone’s finances. These tasks might include suing other parties on your behalf or terminating unwanted financial accounts. A person in this role can also buy or sell your properties. With so many essential things to manage, having someone as your attorney-in-fact who’s good with managing numbers and money is imperative.
An attorney-in-fact can’t practice law as the title implies. That said, someone in this role can have many responsibilities to manage. Finding the right person to serve as your attorney-in-fact can take a lot of consideration. But a good attorney-in-fact can save you a lot of potential estate-related problems.
