THE BENEFITS OF ESTABLISHING POWERS OF ATTORNEY
Should you become incapacitated and unable to communicate your wishes, powers of attorney allow another individual you select to make decisions on your behalf. If you do not have the proper legal documents, your loved ones may not be able to make important choices that could seriously affect your health and financial situation. These legal documents can allow you to maintain control over your decisions while you are able to make them for yourself and allow a family member to tend to your affairs should you become unable to do so. In the State of Indiana, there is a power of attorney for financial matters and one for medical care. A Crown Point estate planning attorney can explain the benefits of each of these legal documents and determine if either would be beneficial for you.
GENERAL DURABLE POWER OF ATTORNEY FOR FINANCES
Should you become disabled or incompetent; a general durable power of attorney will allow another individual to make certain financial and legal decisions on your behalf. You can revoke or amend a power of attorney at any time, and or only allow your attorney-in-fact to make the decisions you choose. With a general durable power of attorney, you can allow another individual to make the decisions on your behalf about the following:
- Real property transactions
- Tangible personal property transactions
- Stock, bond and investment transactions
- Retirement Plan transactions
- Banking Transactions
- Business operating transactions
- Insurance and annuity transactions
- Beneficiary transactions
- Gift Transactions
- Estate, Trust and Other Representative Matters
- Claims, litigation and all legal matters
- Personal and family maintenance
- Benefits from Social Security, Medicare, Medicaid, other governmental programs or military service
- Tax matters
HEALTH CARE POWER OF ATTORNEY
A Health Care Powers of Attorney or “Health Care Representative” for Indiana Residents allows your attorney-in-fact to make certain medical decisions for you, including discontinuing or withholding life-saving care. Although it can be revoked at any time, this directive can become effective should you become disabled, incapacitated or incompetent. You can also sign a Health Care Power of Attorney that is terminated or unaffected by your disability, incapacity or incompetence. If you do not authorize an individual to make decisions for you, your physician will attempt to get in contact with a close relative to make the decision for you.
PLAN FOR YOUR FUTURE WITH A CROWN POINT ESTATE PLANNING LAWYER
With over 20 years of experience, I am well-equipped to assist you in planning for disability. As the former president of the Lake County Bar Association and former chairman of the Trust and Probate Section of the Lake County Bar, I have the experience you need.
I know that estate planning has significant implications upon individuals’ lives, which is why I personally handle every client’s case from start to finish. Clients come first at the firm, and my goal is to provide them with cost-effective options that meet their needs. Take advantage of a free initial consultation to learn more the benefits of planning for disability. Contact Kent A. Jeffirs, Attorney at Law, PC for information about my client-centered estate planning and probate services.