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POWER OF ATTORNEY

DURABLE POWER OF ATTORNEY

ESTATE PLANNING

"When you do the things in the present that you can see, you are shaping the future that you are yet to see."

-- Idowu Koyenikan

DURABLE POWER OF ATTORNEY OVERVIEW

A Durable Power of Attorney is a document that you sign giving someone else the power to handle your finances and legal affairs should you become incapacitated, but it expires upon your death. Essentially, you're saying that you've designated a particular person to represent you if you're incapacitated for some reason. The person you designate, called an "agent" is legally bound to act in your best interest, and you can revoke this person at any time, so you can't just get ripped off by someone.

If you're married, by default your spouse has Power of Attorney if you're incapacitated. The only benefit of having a Durable Power of Attorney is if you're unmarried or if you want to be covered in the event of an accident that incapacitates both you and your spouse.

In all honesty, it is most useful to designate one person that is in charge of things should you become sick. Without it, individuals can potentially try to claim Power of Attorney and a legal mess can ensue while you're incapacitated. If things are basic and straight forward, this document is perhaps not vital, but if you have a lot of assets and a lot ofinterested parties, it's probably worthwhile to designate someone. If this is the case as with other documents, you may want to contact a lawyer to obtain more guidance.


DURABLE POWER of ATTORNEY

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If you are interested in having this document tailor-made for you, a loved one, and/or a friend, feel free to contact me for further discussion. Below is a link to a checklist that you may find helpful.

Email: ccolbert@adroitdesignfirm.com

Phone: (770) 410-8988

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