Financial Powers of Attorney

Designating Direction for Your Finances

When you want to create a comprehensive estate plan, it is important to remember that you have many options to think through and select from. At Scott D. Fisher, A Professional Law Corporation, our goal is to help you navigate the process and choose the legal options that are best for your financial, familial, and personal situation. We make it our priority to ensure that you and your loved ones have peace of mind when it comes to your estate plan.

One of the major components of an estate plan is a financial power of attorney. Our Los Angeles estate planning lawyer is proud to provide legal assistance for those wishing to create a durable financial power of attorney. Whether you are planning for your future heirs or want to ensure that your hard-earned assets don't end up in the wrong hands, our legal team is here to help. We understand that the legal matters surrounding an estate plan can be complex and confusing, which is why we encourage you to seek legal counsel for all your estate needs.

What is a durable financial power of attorney and why do I need one?

A durable financial power of attorney is a written document that allows you to designate a person or persons to manage your financial affairs if you were to become incapacitated. It not only gives the "agent" or selected individual power over your finances, but can also include specific directions on how you would like them to be handled. This gives you and your loved ones peace of mind knowing that your wishes are being followed.

The main tasks your agent will need to handle include:

  • Filing and paying taxes
  • Buying, selling, or maintain property
  • Paying your everyday expenses (this can include your families expenses as well)
  • Manage any savings accounts, retirement accounts, or stocks

They may also be required to help operate your business or select a suitable individual to do so. Any other items involving your finances—such as insurance, investments, and Medicare—may also fall under their responsibilities. This makes it extremely important for you to select an agent who is trustworthy and skilled with financial management.

To learn more about creating a financial power of attorney or if you have questions about any other estate planning matter, be sure to contact our firm today. We can schedule an appointment to discuss your estate plan and your long-term goals.