Whether you are just starting your adult life or preparing for retirement, you need a designated power of attorney. A power of attorney is a legal designation that you make to allow someone else to act in you place in the event of an emergency. Your power of attorney can take care of your finances and legal matters. The two most common types of power of attorney are a durable power of attorney and a contingent power of attorney.
Who Should You Designate As Your Power of Attorney?
Most people choose a close relative, like a parent or sibling, and a spouse to represent them as a legal agent. It’s common to designate two different agents in the event that something happens to both of them at the same time. Your power of attorney should live relatively close to you and have a good relationship with you so that they will understand your needs and matters. Some people choose to have their children serve as a power of attorney, but you should consider the age of your children, their responsibility level, their maturity, and the relationships between siblings before doing so. In stressful times, it can be very difficult for siblings to agree.
Ask Yourself Some Questions
You should always ask questions about each potential candidate you have for power of attorney. A great starting place is with the following:
- What is the relationship between the potential agent and the rest of your family? Are there contentious relationships between some of the family members involved that might come to a head by labeling this agent your power of attorney?
- Will your child or spouse be able to carry out your wishes if your family or siblings disagree?
- Will the person be able to hold strong in the face of fierce opposition from other family members or people outside the family?
- Does this person have good problem solving skills?
- Will this person act selflessly to execute your wishes instead of their own?
- How will this person benefit from managing your estate? Are you leaving things to them?
Power of Attorney Assistance from The Carlberg Law Firm
The Carlberg Law Firm has been guiding clients through all of life’s difficult situations since 1970. We have a wealth of experience in family law, whether you are seeking premarital agreements, working through your will, or seeking a divorce. We serve all of our clients with dignity, dedication, and determination. To hear more about us and what we do, contact us online or give us a call at (703) 549-5551. For more legal tips and to see what we are up to, follow us on Facebook, Twitter, and Google+.