A Financial Power of Attorney is a document created to appoint an individual or organization to handle your financial and other affairs if you become incapacitated or are otherwise incapable of making financial decisions on your own. With a properly designed and implemented Financial Power of Attorney you, not the court, chooses the person authorized to make important financial decisions on your behalf. This is extremely important because without such a legal document, the court could very well appoint someone you do not trust or simply don’t want to make these decisions.
A Financial Power of Attorney can provide broad and extensive powers to make decisions on your behalf, including:
- Filing of tax returns
- Buying and selling real estate property
- Managing property
- Handling bank transactions
- Entering safety deposit boxes
- Acquisition of life, health, and automobile insurance
- Settling claims
- Entering into contracts
- Managing stocks
- Operating Businesses
- Transferring assets to a Revocable Living Trust
Determining the best person to serve as your Financial Power of Attorney is obviously an important decision. At Cholewka Law, we can help you choose the ideal person and create a customized Financial Power of Attorney that accurately reflects your wishes. Contact us today for a consultation.