The “power of attorney” document is used in almost all estate plans. In generally decides who will handle a person’s legal, financial, and medical affairs if that person loses the capacity to make decisions for themselves. This column discusses the power of attorney rules that exist in the State of Indiana, but there are similar regulations that exist in every State. The power of attorney in a future estate pan can be a good way to avoid the time and costs that are associated with guardianship proceedings. This important document provides people with more control over determining who will manage their affairs when they can no longer do it.
See Annette Rush, Power of attorney commonly misunderstood, Kokomo Perspective, December 13, 2015.
