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Review Your Power of Attorney for 2021

Review Your Power of Attorney for 2021

A new year offers a great opportunity to take a step back and review your current estate plan and make any necessary changes. This certainly applies to any powers of attorney that you have in place. In the event that you do not have a power of attorney, a new year is a great chance to determine whether you need one and, if so, execute one. To learn more, call a Boca Raton estate planning attorney today.

What is a Power of Attorney?

Powers of attorney allow you to designate a person to make decisions on your behalf in the event that you are unable to do so yourself. When you execute a power of attorney, you are referred to as the principal, and the person authorized to act on your behalf is called the agent.

People commonly execute powers of attorney for their specific issues like healthcare or financial decisions. Everyone can benefit from executing a power of attorney that allows a trusted friend or family member to handle their affairs in the event that they become incapacitated.

Why Would You Change a Power of Attorney?

It’s a good idea to regularly review any powers of attorney you have already executed, and a new year is as good a time as any. Some of the reasons you may want to change an existing power of attorney include:

  • A change in your financial circumstances
  • A marriage
  • A divorce
  • A change in your relationship with the agent

Discuss Your Options with an Estate Planning Lawyer in Boca Raton

The start of a new year is a great time to review any existing powers of attorney that you have in place and the rest of your estate plan. At Rubino Findley, PLLC, we are committed to helping people plan for the future and create comprehensive estate plans that protect their hard-earned assets. Contact us online or call 561.220.8464 to schedule a consultation with a Boca Raton estate planning attorney.

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