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Medina estate planning attorneyIt can be easy for the elderly or disabled to be exploited by people who take advantage of them through undue influence, secret transactions, or identity theft. A power of attorney (POA) is a legal document that grants permission for one person, the “agent,” to represent another person, the “principal,” in different types of financial and medical matters.

Creating a power of attorney can be helpful if a person cannot be present to sign legal documents. It can also be a necessity, such as if someone becomes incapacitated. The POA allows for the agent (family member or friend) to take care of the principal’s finances or make decisions regarding medical treatment. 

Comprehensive Durable Power of Attorney

All states have adopted a “durability” statute, which allows the principal to include in his or her POA a directive that no power granted by the principal will become invalid if said principal becomes mentally incapacitated. This is referred to as a “durable power of attorney,” and the document continues to be valid until a specified termination date or when the principal dies. Some of the advantages of having a comprehensive durable POA include:

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Medina County estate planning attorney willNobody wants to talk about what will happen to themselves or their family after death. It can be a difficult and uncomfortable conversation, but having a plan in place that determines what happens to your affairs when you die is important. The majority of Americans have not created any sort of estate plan, meaning the majority of American families will have an unnecessarily difficult time getting a loved one’s affairs in order after their death. Wills are a basic form of estate planning that everyone -- no matter if you are 25 or 95 -- should have in place should the unthinkable happen. 

Here are a few ways that having a will in place can benefit you:

1. You Can Make Sure Your Kids are Being Taken Care of By a Person of Your Choosing

One of the major components of a will is what will happen to your children if you die. If you do not designate a specific guardian for your minor children, the state will step in and will most likely give custody of your children to your next of kin. The person who the state gives custody to may or may not be the one who you would like to be looking after your children. Explicitly stating who you would like to take care of your children is important.

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