We encourage people of all ages in Charlotte to create their estate planning documents and powers of attorney.
Have you heard the term power of attorney, but you aren’t sure whether you need it and how it applies to you? Are you interested in having your estate planning documents drawn up and want to make sure you are able to include your powers of attorney? At NorthPointe Law Group, we offer estate planning as part of our comprehensive services for individuals and families in Charlotte, North Carolina. Our basic estate plan, or will package, includes both financial and healthcare powers of attorney.
- Financial Powers of Attorney – A financial power of attorney is an essential piece of your estate plan and is perhaps one of the most important estate documents. Termed a “life document,” this may only be used during one’s lifetime and can be used intermittently or frequently, based on need. Financial powers of attorney come in several formats, including durable power of attorney and springing power of attorney.
o Durable Power of Attorney – The durable power of attorney gives a designated person the ability to assist in numerous financial situations, which can be selected by the grantor, with or without regard to incapacity. Useful in situations where one may be traveling or routinely need help, the durable power of attorney should also be used with caution due to its overarching permissions.
o Springing Power of Attorney – Created for use at a future date, a springing power of attorney must be used in the event one becomes incapacitated. This document is used only when needed.
- ·Health Care Powers of Attorney – A health care power of attorney is used to state who can make medical decisions on a person’s behalf in the event of incapacitation. These documents notify and clarify for medical professionals when difficult decisions must be made. In conjunction with a living will, the health care power of attorney is important in the avoidance of conflicting positions between family members and medical facilities.
At NorthPointe Law Group, we encourage people of all ages to create their estate planning documents, especially young adults. Having a plan in place that gives guidance during unexpected events can help medical professionals and family members understand your wishes.
Contact us today if you would like more information about powers of attorney and to schedule an estate planning appointment.