Power Of Attorney
No one wants to think about a future in which they are unable to make their own decisions or communicate their desires. At Gold Law Firm, LLC, we are proud to help clients plan for the future, make challenging decisions and make their wishes known to their loved ones.
Why A Power Of Attorney Is Important
A power of attorney is one way to document your wishes in the event of a life-changing medical event or incapacity. A power of attorney allows the creator, or “principal,” to grant certain powers or rights to another person or representative, called an “agent” or “attorney-in-fact.”
Most people use powers of attorney to accomplish two main estate planning goals:
- A financial power of attorney gives someone the ability to handle your financial or business affairs.
- A medical power of attorney, which is also called a “proxy directive,” allows the attorney-in-fact to make medical decisions on your behalf.
However, there are many types of powers of attorney documents that have a variety of applications. Used correctly, a durable power of attorney can even provide a cost-effective, less restrictive alternative to court-ordered guardianship.