Already Have a Power of Attorney? Chances Are It’s Outdated.

An FPA can become “obsolete” in a one year. This is because many institutions don’t rely on stale, outdated documents. Depending on your circumstances, a stale, obsolete power of attorney may not be able to help you and your family with insurance contracts, retirement plans, banking and investment accounts, online personal accounts such as email, Facebook, Instagram and LinkedIn, and elder care and special needs planning.

If it’s been more than a year or two since you’ve signed your power of attorney, it might be time for a fresh one. Contact the estate planning attorneys in Ann Arbor at Pear Sperling Eggan & Daniels, P.C. to help setup your power of attorney. We can help make sure you and your family are fully protected by helping you determine:

 

●      Who would be the best choice for this responsibility,

●      How much authority you should give your financial agent, and

●      When to make your power of attorney become effective.

 

Learn more about how you can protect your finances from Coronavirus complications here.

 
Get Started Today: Schedule Your Consultation!

 

If you’re interested in learning more about estate planning, please contact an estate planning attorney in Ann Arbor at 734-665-4441.

What is Financial Power of Attorney?

A Financial Power of Attorney (FPA) allows you to select a trusted family member or friend who will be responsible for managing your money and other property if you become mentally incapacitated (unable to make your own decisions) due to illness or injury. Without this document, your bills won’t get paid, tax returns won’t be filed, bank and investment accounts held in your name will become inaccessible, retirement distributions can’t be requested, and property can’t be bought, sold, or managed.

Learn more about how you can protect your finances from Coronavirus complications here.

 

Get Started Today: Schedule Your Consultation!

 

If you’re interested in learning more about estate planning, please contact an estate planning attorney in Ann Arbor at 734-665-4441.