Cleveland, Ohio Estate Planning Attorney
Cleveland, Ohio Estate Planning Lawyer
A power of attorney is a legal document that authorizes someone to act for you. You name someone known as an agent or attorney-in-fact (though the person need not be an attorney) who steps into your shoes, legally speaking. You can authorize your agent to do such things as sign checks and tax returns, enter into contracts, buy or sell real estate, deposit or withdraw funds, run a business, or anything else you do for yourself.
Financial Power of Attorney
Usually, we like to feel that we are on top of making our own financial decisions. We pay our bills, transfer money between our accounts and make our investments (good and bad). But sometimes, this is not possible. Maybe you are traveling to a remote area for an extended period of time. Maybe you have suffered illness or injury and are not up to making these decisions. Maybe you are getting older and finding it more difficult to keep track of your finances. At times like these, you need to grant someone financial power of attorney. Contact Cleveland, Ohio estate planning attorney Daniel A. Baron at Baron Law LLC. Cleveland, Ohio lawyer Daniel A. Baron can help you prepare for a successful and prepared financial future.
A financial power of attorney can take effect the day that it is signed and executed. It can be withdraw or changed at any time, as long as you remain competent. Alternatively, it can be executed to be in effect for a specific amount of time (like the period you will be hiking the Appalachian Trail).
A “springing” financial power of attorney becomes effective at a later date. It is triggered by some future event, such as the loss of capacity to manage your own affairs, as certified by a physician or some other designated individual.
A financial power of attorney does not continue after your death. At this time, responsibility for your financial affairs passes to the executor named by your will or, in the absence of a will, by the court.
Baron Law LLC will help you get your future in order – for yourself and for your loved ones. Baron provides a range of estate planning services including: drafting a will, planning for incapacity, probating an estate, obtaining the legal authority to care for someone, trusts, and more. It’s my job to make estate planning, estate administration, and transactional matters easy and less stressful.
Financial Power of Attorney | Baron Law | Cleveland, Ohio
Financial power attorney (POA) is a set of documents that you’re giving your agent the ability to act and make financial decisions on your behalf. They’re most commonly used in an elder law scenario. They can also be used in a crisis scenario, if you are overseas, a business owner, and you need to elect […]
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