For some individuals, the subject of estate planning can be a touchy one. If you cringe at the mention of wills, trusts, and powers of attorney, you are not alone. By seeking the guidance of Power of Attorney Dubai, you can ease the stress and confusion that comes along with making these preparations by using power of attorney. Here are the benefits that accompany using power of attorney
What Is A Power Of Attorney?
How Can Estate Planning Attorneys Assist?
A power of attorney is a written authorization empowering a trusted person to make decisions regarding finances and health care on your behalf, should you lose the capacity to make such decisions on your own. While you may be reluctant to designate such, there are many important reasons to do so.
Power of attorney (POA) can help you build a solid plan for the future of your financial and physical well-being, so you can relieve the anxiety of the unknown and protect yourself from family members who may be inclined to take advantage of your frailty. Most importantly, this is the best way to maintain control of your life, as the person you designate will be required to respect your wishes in every way possible.
Protect Your Assets And Financial Matters
A financial power of attorney authorizes someone else to handle your financial matters. This can include simple tasks, such as opening your mail and paying bills; or more complicated responsibilities like filing tax returns. Either way, consulting an estate planning attorney with experience in elder law is the first step to safeguarding your financial assets. The person you choose to handle your finances need not be a financial expert, but merely a competent individual that you trust to handle your sensitive matters with common sense.
Ensure That Your Health Care Wishes Are Honored
For many individuals, the most important aspect of estate planning is designating a medical power of attorney. It can be scary to think about losing the ability to speak for oneself when it comes to health-related issues, including critical life support situations. Appointing a trusted person to make medical decisions on your behalf is the only sure way to see that your health care wishes are granted. If you would like to leave specific instructions regarding medical procedures and end-of-life issues, it is advised that you draft a living will. In some states, these two documents can be combined into one form, known as an advance health care directive.
Although living wills may seem relatively cut and dry, there are instances in which they are disputed. If you feel you have legitimate grounds to challenge a living will or advance health care, you should look for someone to guide you or make sound decisions on your behalf.