Did you know “the 4th of July—variously known as Independence Day or July 4th—has been a federal holiday in the United States since 1941, but the tradition of Independence Day celebrations goes back to the 18th century and the American Revolution” in America?  As we celebrate the independence of America this month, it’s time to plan so we can celebrate our own independence now and in the future.
The future can be uncertain. How do we protect ourselves, our family and our businesses from a sudden loss of autonomy caused by an unexpected crisis this 4th of July? The answer is simple. If you have faced these concerns like we have then you need to know it’s time to create a California durable power of attorney.
The durable power of attorney allows you to name a decision maker, and alternate decision makers, who are best-suited to make decisions for you should you be unable to. This means your designated decision maker will have the legal authority to act on matters that are financial, business and transactional in nature on your behalf. For example, your agent will be able to pay your bills, manage your income and handle your affairs in the way you would want if you could not act independently.
What makes a power of attorney durable? When you are working with your estate planning attorney to create your estate plan, is durability important? The durability provision in the power of attorney document means that it is able to be used in the event of your incapacity. This is a critical aspect to your estate plan. While a power of attorney is a vital tool in all respects, you will need it most in the event you are suddenly incapacitated and cannot make your own decisions.
The durable power of attorney is just one facet of your comprehensive California estate plan. When you are talking to your estate planning attorney about what you need this 4th of July, don’t forget to discuss wills, trust agreements, health care directives and living wills. Through your estate plan, your chosen decision maker will able to fulfill your wishes if you cannot act for yourself.
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