Your Complete Guide to Estate Planning – CHAPTER 2
As we touched on in the previous chapter of our Complete Guide to Estate Planning, power of attorney (POA) is an essential estate planning document that gives a trusted individual or individuals, which you designate, the power to act on your behalf.
These designees are referred to as your “agents” or “attorneys-in-fact,” and they can take any action specified in the document such as managing your general affairs if you are unable to do so, or simply completing a single project for you, like selling your home. POA designations are flexible and can be shaped to accommodate a variety of circumstances.
Have you been wondering whether designating a power of attorney for yourself or a loved one is a good idea? Or perhaps someone close to you has asked you to take on this responsibility for them?
As part of our ongoing post series, comprehensive estate planning information is right here on our blog to make navigating the ins and outs of estate planning in Pennsylvania easy and worry-free. Today’s post offers a closer look at power of attorney designations, why they’re important, and how you can set up clear and effective POA documentation for greater peace of mind.Continue reading “Understanding Power of Attorney and What It Means For Estate Planning”