Powers of Attorney
Those who are participating in estate planning related practices in the Beverly Hills, CA area, such as designating a power of attorney, should consider consulting with a power of attorney Beverly Hills, CA lawyer from Inter Vivos, PLLC. A Beverly Hills power of attorney lawyer will be able to offer their state-specific skills and experience in an effort to assist clients in developing a strategy that meets their needs while abiding by local rules and regulations.
Agent Designation
Designation of an agent with Power of attorney is an essential component for any estate plan for those who wish to plan for all potential outcomes the future may hold. The primary goal of a power of attorney designation, is to name a specific person or group of people who will be permitted to make decisions regarding an individual’s healthcare, financial affairs, business, and other more general decisions.
Commonly referred to as the agent or attorney-in-fact, the agent is the person that is designated as having power of attorney. The agent designation is usually given to spouses, children, close relatives, and other people who are close and trusted. In some cases more than one agent may be designated as a co-agents. A Beverly Hills, California power of attorney lawyer will be able to offer suggestions based on their knowledge and experience for selecting agents who can be trusted to act in the best interests of the estate.
Plan for all possible scenarios
In the event that they are to become incapacitated or otherwise unable to for themselves, the person who is designated as having power of attorney can step in, having legal permission to act on the behalf of the estate or individual. Power of attorney is not only useful in the event of incapacitation – actions for an agent granted with a power of attorney designation may be limited to specific actions or activities that would normally require authorization from the owner of an estate.
Common reasons for designating a power of attorney:
- If buying or selling real estate, but are unable to be present to complete the deal, the designated agent can be granted permission to complete the transaction on the behalf of the estate.
- For those planning for the possibility of future incapacitation that renders them unable to manage their healthcare, finance, business, and/or general decisions, a “Springing” Power of attorney can be designated.
- When you designate an agent who has power of attorney, you effectively avoid the possibility of that person being appointed by another party, such as a court in the form of guardians, conservators, or committees.
For those who are interested in designating an agent with power of attorney in Beverly Hills, CA should consider contacting an experienced lawyer from Inter Vivos, PLLC, a top rated estate planning and asset protection firm. With our extensive expertise on the subject of power of attorney, we are well prepared to assist clients with the process of designating a power of attorney.
Contact Inter Vivos, PLLC to set up a meeting with an experienced Beverly Hills, CA power of attorney lawyer during which you will be able to discuss your goals and receive input from a qualified professional.