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Appointing power of attorney agents vital for important decisions

Getting one's affairs in order in relation to how end-of-life wishes should be handled can be a sensitive topic. Still, estate planning is vital for any adult in New York or elsewhere because there will be numerous questions that need answering in the event that a person becomes incapacitated. One question that often needs answering relates to who is in charge of a person's affairs. Fortunately, that question can be answered with power of attorney appointments.

A durable power of attorney gives one the ability to appoint a person to handle life affairs relating to health care, finances and property. An individual could choose one person to handle each of these areas or appoint multiple people. Whatever route is chosen, the agent or agents would have the ability to act on the appointing party's behalf.

Making these designations is vital because without them, the court may have to put someone in charge and many unknowns exist regarding what choices may be best. It is also important because if a person needs care and if assets need liquidating to pay for that care, that action could not take place unless the assets were jointly owned or unless a power of attorney agent had been appointed to act in the person's stead. Having someone in charge just in case could make a substantial difference in the timeliness in which actions can occur and in ensuring that a trusted person is in charge.

Making power of attorney appointments may seem like a major estate planning step, and it is. It is important that the person or people chose to take on these roles have the ability to do so and want to do so. In order to gain more information on utilizing this planning tool, New York residents may want to speak with knowledgeable attorneys.

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