Vernon & Salmon Arm Estate Planning Lawyers Assisting with Enduring Powers of Attorney
People are rarely afforded advanced knowledge of their own incapacity. Life inherently contains uncertainty, and so the best protection in anticipation of sudden changes is preparation. Financial and legal matters don’t dissipate when a person becomes incapacitated, so it is important to put a plan together that allows someone you trust to step in and deal with such situations on your behalf. An essential feature of a well-designed estate plan is an enduring power of attorney (sometimes referred to as a “POA”). The lawyers at Cherkowski Marsden LLP are exceedingly experienced in creating custom power of attorneys designed to reflect individual concerns, no matter how complex.
An enduring power of attorney allows a person or persons, of your choosing, to act on your behalf in legal or financial matters when you are unable to do so yourself. Your chosen attorney will have the authority to make decisions, sign documents and handle your funds on your behalf, allowing for a smooth transition in the event of sudden incapacity. Without an enduring power of attorney in place, a person seeking permission to act on your behalf will be required to undergo a lengthy and potentially costly legal process, in which they will need to apply to the court to be appointed as your substitute decision-maker. Creating an enduring power of attorney is a much simpler process and ensures the person or people of your choosing will be empowered to act as your representative should it become necessary.
Making Incapacity Planning Comfortable and Stress-Free
The estate lawyers at Cherkowski Marsden LLP understand that planning for one’s own incapacity or death can be a stressful and unpleasant experience. Nobody likes to think about a time when they may not be capable of making their own financial decisions. However, given the complications involved in the alternative, properly planning for possible future incapacity will grant you comfort and certainty, knowing your financial interests will be looked after by someone you trust.
Our first priority is to ensure you are comfortable during this process, and to that end, we have cultivated a casual and approachable environment at our firm. Thinking about an estate plan can be an anxious and stress-inducing experience for many people, so we do everything we can to help our clients feel at ease throughout the process and leave with the relief of knowing they have taken the responsible step of adequately planning for future uncertainties.
Considerations When Planning an Enduring Power of Attorney
The most important consideration when drafting an enduring power of attorney is whom to appoint as your attorney(s). It is important to choose someone you trust implicitly to protect your financial and legal interests. Attorneys are required to act honestly and with good faith in your best interests, so it is important to choose someone who can be relied upon to do so. Most often people choose a family member or close friend, however, if you prefer, you can choose to appoint a trusted professional such as your lawyer or accountant.
You will also want to consider how many attorneys you wish to appoint. It is recommended that you select more than one, in case your chosen attorney is unwilling or unable to act on your behalf if/when the time comes. Multiple attorneys can be empowered to act jointly or independently. While it may seem prudent to appoint attorneys jointly in order to ensure consensus and oversight in all decision-making, it is advisable that they be appointed to act independently of each other. If attorneys are only empowered to act jointly, this can be cumbersome when the time comes to sign documents or make decisions, particularly if the attorneys live far apart.
Contact the Trusted and Respected Lawyers at Cherkowski Marsden LLP to Develop a Comprehensive Enduring Power of Attorney Plan
Planning for the future can be unpleasant to think about, but the rewards of a well-defined estate plan are vast. Knowing your future decisions are in the hands of people you trust to always protect your best interests will grant you peace of mind and will make the process much less complicated for those whom you have chosen to act on your behalf. Contact the estate planning lawyers at Cherkowski Marsden LLP today to begin the process of designing a carefully considered plan for your future. We will make the process as stress-free and comfortable as possible so that you can get back to living your life with the relief of knowing a plan is in place. Contact us online or by phone at 250-308-0338 (Vernon office) or 250-803-9171 (Salmon Arm office).