A Power of Attorney (also known as POA) over Assets gives another person the power to act on your behalf as your agent. The document can be limited to a particular activity, be temporary or permanent. POA for Asset Protection can take effect immediately or only upon the occurrence of a future event such as a mental or physical disability.
A POA for Asset Protection allows you to choose who will act for you and defines his/her authority and limits.
Your agent may be given the following authority:
- Managing your day-to-day financial affairs.
- Take steps to implement your estate plan
- Make gifts on your behalf
- Deal with assets held in your name such as IRAs and 401k plans
- Help with long term care planning
The process of estate planning may seem daunting… but, it doesn’t have to be. Estate planning and assigning POA for Asset Protection is a proactive way to ensure that you, your family, and your estate are taken care of the way you want them to be. Our expert team of attorneys at Beyer, Pongratz, and Rosen are here to help you through the process. To learn more about Estate Planning or the setting up of POA for Asset Protection, you can Request a Consultation or call, directly, at 916-369-9750. We look forward to working with you!