Powers Of Attorney | Salem, Massachusetts
A power of attorney (POA) document can be an important part of any estate plan or long-term care plan. This kind of legal arrangement is important and helpful in a number of scenarios. For instance, a senior may wish to prepare for a time in the future when he or she is unable to make sound decisions.
Casey & Lundregan, P.C., provides reliable legal advice when you need it most. Talk to us about your future financial plans and ask us about our POA services. Call us at 978-224-8893 to schedule a free initial consultation with us at our Salem, Massachusetts, office.
Power Of Attorney Benefits
The POA document represents an agreement between two people — one person gives another the power to make important legal and financial decisions on his or her behalf. This appointed person is called the attorney-in-fact.
As an attorney-in-fact, this person can handle all your legal affairs. Here are some common functions of an attorney-in-fact:
- He or she can work on your estate plan and make important decisions about money or property.
- Setting up a trust is another important activity a POA may authorize.
- Your POA may authorize someone to handle your finances day to day. This may include activities like check cashing or handling investment accounts.
- You may give authorization to transfer real estate on your behalf to protect it from the financial devastation of a long-term nursing home stay.
Avoid Costly Guardianship Or Conservatorship Proceedings
Guardianship and conservatorship proceedings can be long and costly legal processes. One way to avoid this kind of expense is with a POA. It provides similar benefits while avoiding the complicated and potentially expensive process of filing for a guardianship or a conservatorship through the probate court.
A Local, Family-Based Firm
The attorneys at Casey & Lundregan, P.C., understand the importance of comprehensive services when it comes to estate planning or planning for an aging loved one.
That is why, along with a power of attorney, our Salem-based attorneys can advise you regarding other planning methods. For instance, our lawyers can provide you information about health care proxy and HIPAA (Health Insurance Portability and Accountability Act) releases. This can allow a person designated by you in advance to make certain medical decisions. A health care proxy document is especially important as people get older and perhaps suffer from conditions that affect memory.