Durable Power of Attorney for Financial Purposes
A durable financial power of attorney remains in force after a person has become incapacitated. The principal allows a trusted agent to pay bills on his behalf, transfer stock, or tend to a revocable trust’s property. This power of attorney ends at death. If you have not properly prepared a durable power of attorney, then a court conservatorship proceeding will be needed. This is a public court proceeding to determine who may best care for your estate. This proceeding may be the best course of action in cases where you don’t have a trusted person to administer your finances - a durable power of attorney is subject to abuse and is not reviewed for abuse until long after harmful decisions have been made. Otherwise, a conservatorship may be a burden because the court appointed conservator must post a bond and make annual accountings to the court.
Contact the Law Office of Roy Newman to set up a power of attorney.
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