Although there are many different reasons to pull together various estate planning documents for what will happen to your assets after you pass away, it is just as important to think about planning over the course of your life. This is one of the most critical reasons why you need a power of attorney.
No one can predict the future. By putting together a power of attorney now you are able to prepare for the unexpected down the road and minimize any devastating effects that might otherwise impact your family. You should never assume that a spouse may step in and take care of your financial and medical affairs.
You may need to name someone to have the legal authority to speak on your behalf. Even small details such as contacting a credit card company when your name is on the card and account and your spouse’s is not can become extremely complex. Putting together a power of attorney with the help of an experienced estate planning lawyer can assist you to allow friends or family to act on your behalf and to be your voice in this situation.
