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What is a Power of Attorney?

A financial power of attorney is an often overlooked part of an estate plan. Especially with the pandemic these days, people are very concerned with a healthcare power of attorney. They want to make sure that if they get sick, the right person is managing their medical decisions. What about their finances? Many Americans spend a lot of time and effort in managing their finances. While most are worried about how the coronavirus (COVID-19) will impact their income—whether that’s because they are temporarily furloughed, find themselves suddenly without a job, or watching their investment and retirement accounts dwindle—there is another way COVID-19 can wreak havoc on American’s finances: lack of incapacity planning. As the coronavirus continues to expand across the country, thousands of Americans are unable to carry out normal financial responsibilities because they are too ill, or they are stuck abroad and unable to travel home, or from a lack of resources due to being isolated at home. While feeling healthy, individuals should plan ahead now and ensure that someone will take care of their financial duties by setting up a Financial Power of Attorney. This important legal document will not only protect your finances should you fall ill from COVID-19 but also from any events that might leave you incapacitated, like an injury or accident. If you’ve been considering a power of attorney, or this is the first you are hearing of it and would like more information, call my office to set up a virtual Legal Strategy Session and we can discuss if it is the best option for your situation: https://www.andrewmayers.com/reports/... ----- Let's Connect on Social Media: Twitter ~   / ayerslaw   Facebook ~   / ayerslaw   Instagram ~   / ayerslaw   More Links ~ https://www.andrewmayers.com/reports/...