Financial Power of Attorney Fort Collins, CO
If you want to create a financial power of attorney in Fort Collins, CO, you should speak to an estate planning lawyer. The legal document allows a person of your choosing to handle your financial matters if you become incapacitated during your lifetime. Having this document can help you avoid financial disaster.
What Your Agent Can Do
The person you appoint as your financial power of attorney agent will be able to handle many types of financial matters, from real property transactions and banking transactions to tax matters and government benefits. Your agent can do as much or as little as you want him or her to do.
How to Establish a Financial Power of Attorney
There are several steps involved in creating a financial power of attorney. If you wish to establish this document, follower these steps:
- Figure Out If You Need One: The first thing you have to do is determine if you actually require a financial power of attorney. In certain situations, you may not need one. For instance, if all of your assets are also in your spouse’s name, a financial power of attorney may not be necessary. If you have a trust that appoints a trustee to manage your assets, you may also not need this legal document.
- Select an Agent: If you determine that you do indeed need a financial power of attorney in Fort Collins, CO, you have to choose the right agent. This is a big responsibility, so you don’t want just anyone to take on the role. Ideally, the agent should be trustworthy, responsible, communicative and assertive.
- Consult a Lawyer: A financial power of attorney is a complex legal document, so you should work with a skilled estate planning lawyer. He or she will help you establish a valid financial power of attorney that clearly states your wishes. With a lawyer on your side, you will have peace of mind knowing that there are no errors in your document.
- Review the POA Periodically: Your circumstances can change throughout your life. That’s why you should review your financial power of attorney from time to time. For example, if the agent you named can’t fulfill the role anymore, you have to make the appropriate changes.
If you want to establish a financial power of attorney in Fort Collins, CO, you should schedule a consultation with our lawyer at W.B. Moore – Attorney at Law. We offer free consultations after normal business hours and by Zoom to make it convenient for you.