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Estates Attorney FAQ
Serving all of Pennsylvania
What is a durable power of attorney?
A durable power of attorney is a legal document that allows you to designate an agent (often your spouse or children) to "step into your shoes" and perform a variety of functions for you in the unfortunate event of an incapacitating injury. These functions can include signing checks, purchasing stocks and bonds, selling or leasing property, and many other financial functions.
Failure to create a durable power of attorney can have disastrous effects. In the event of an emergency where you are rendered incapacitated and unable to handle your own assets, your family must go to court to have a guardian appointed by the court to oversee your affairs. Compared to the relatively quick process of creating a durable power of attorney, this can be exceedingly long and expensive. Additionally, until such a guardian is appointed, your spouse or family will be unable to sell any property that you jointly own, even if it becomes necessary to pay for your medical care.
Creating a durable power of attorney is a relatively quick and inexpensive strategy to ensure that you, your family, and your assets are protected in the event of an emergency. Given the safety and low cost of creating a durable power of attorney, and the possible expense and dangers of not doing so, it is very important for you and your family to take the steps to protect yourselves now. If you wait until an injury occurs, you may be stripped of any ability to do so.
The estates attorney team at Michael J. O'Connor & Associates is ready to begin tackling your legal problem today. Email or Call our toll free number at 1.800.518.4LAW for a free initial consultation and review of your case.
