Managing Your Financial Affairs in the Event of Disability
What would happen to your family if you were in an accident tomorrow and were unable to make decisions? Who would transact business and manage your affairs? A durable power of attorney provides assurance that someone you trust will be able to act on your behalf to manage your financial affairs.
At the Gemma Law Office in Braintree, Massachusetts, we offer a free attorney consultation to discuss powers of attorney and other estate planning strategies. Estate planning lawyer Anthony Gemma provides comprehensive estate planning services to individuals and families in the South Shore area of Massachusetts.
What Is a Durable Power of Attorney?
You may assume that your spouse or someone else would be able to step into your shoes and make decisions for you if you were incapacitated. However, that is not always the case. Without a durable power of attorney (or a trust) in place, your representative may not have authority to act on your behalf without going to court to become your guardian or conservator — sometimes an expensive and lengthy process.
A durable power of attorney:
- Allows you to name a trusted person to handle your financial affairs and make decisions for you
- Goes into effect only when you want it to — for example, either immediately or effective only if you become incapacitated
- Confers only the specific powers you want another person to have
Most financial institutions will accept a power of attorney if it was drafted recently and complies with current laws. However, a power of attorney may not be as effective as a trust for managing your affairs while you are living.
Schedule a Free Consultation With a Lawyer
Make today the day you start planning wisely for the future. Contact us by telephone or e-mail to schedule a free initial consultation with attorney Anthony Gemma. Our Braintree office is easily accessible from Boston, as well as Metrowest and South Shore communities, and has free parking and disability access.
