Watching your parents and grandparents lose physical and metal abilities is emotional. However, during this time, it’s crucial to ensure that the estate they’ve worked hard for, is protected.
As they age, it may be more difficult for them to make sound decisions regarding their finances, business matters, and their estate plan. To help them safeguard their estate, relatives should consider assigning a financial power of attorney (POA). Taking action early is key, while they are still in good health. They can carefully choose a trusted relative or friend to act on their behalf. With a designated POA, families can be forced into lengthy and expensive court proceedings if they become incapacitated.
An estate is more than money or property, it reflects a person’s life work. Appointing a POA who truly understands and respects their values is a meaningful way to honor a loved one’s legacy.
