Writing a will is one of the most important obligations anyone can undertake for the care of his or her personal interests. However, appointing the best Power of Attorney to handle your affairs while still alive is also of vital importance. Why? Saanichton Law Group is here to help you understand.
Possibly you expect to be leaving the country for an extended period. Or perhaps you fear becoming incapacitated due to illness and want your affairs protected. In any case, you need to have a trusted individual to lend a hand. After all, the attorney you choose will have authority over your property and finances.
There are several key reasons why it is important to choose who will be your Power of Attorney for financial and legal reasons.
TRUST
The person you select as your Power of Attorney must be someone you absolutely trust. He or she will have authorization over your financial and legal affairs, depending on restrictions you specify. Other traits your chosen attorney should have include reliability, honesty, and integrity.
Undoubtedly, you want someone who will steer clear of conflicts of interest. He or she must be capable of acting on your behalf to keep your property and money separate from their own and other family members.
PROFESSIONALISM
The ideal Power of Attorney should be capable of being on hand when required. He or she must have the ability to make objective decisions on your behalf. Certainly, you want someone who will take action in your best interests and maintain accurate, organized records of financial transactions. He or she should be prepared and competent in financial management. Furthermore, he or she should absolutely have fiscal knowledge to deal with your assets.
Nevertheless, you may appoint a close relative or friend as your POA if you deem him or her as qualified. Carefully consider these vital factors prior to making an informed decision.
HOUSEHOLD CIRCUMSTANCES
Prudent communication with family members helps diminish conflict if anything should happen to you. The attorney you choose will be authorized to manage your affairs. This should negate family squabbles over who can or cannot control your possessions and assets.
Additionally, your unique family dynamics may be maintained by assigning a trusted advisor. This should avoid bickering among siblings or other family members. If you fear appointing one family member over another may result in hurt feelings, you can choose a neutral person outside the family.
On the other hand, you may have a particularly reliable, trustworthy family member that everyone seems to seek out in times of need. This may be the person everyone agrees on to appoint as your Power of Attorney.
Emphatically, choosing the best Power of Attorney to suit your needs is important. It can ultimately provide you peace of mind that your financial and legal affairs will be looked after in the event that you cannot attend to them.
Contact our Saanichton law office today with questions or concerns you may have regarding your choice of Power of Attorney.
At Saanichton Law Group we have provided our clients with a full range of legal services and expertise since 1996. We offer our services across Saanichton and the Victoria area. Call us at 250.544.0727 or email us at info@saanichtonlaw.com today to find out more about the legal services and advice we can provide for you.
