Selecting or Changing Your Power of Attorney
A durable power of attorney is an important aspect of any comprehensive estate plan. This document gives another person of your choosing the authority to access your accounts and manage your affairs if you become incapacitated due to an injury or illness. This power of attorney is “durable” because it persists even after you lose your decision-making capabilities. Choosing a power of attorney should be a carefully considered decision. Many people choose their spouse as their power of attorney, which often makes sense. If you get divorced or your spouse passes away, you should always remember to update your power of attorney documents. Aside from your spouse, who should you select? You might consider your oldest adult child, though this should not be an automatic choice. In some situations, your…
