Powers Of Attorney And Planning For The Future by KobrickLawNY


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									Powers Of Attorney And Planning For The Future

When you are making plans for the future you probably have no difficulty envisioning
your active retirement. Setting a financial course that will enable you to have the
resources that you need to enjoy all of the things that you always wanted to do but were
too busy to get to is actually kind of fun. And though it is not the same type of thing,
estate planning is a necessity that we are all aware of so it is not something that most
people overlook.

In addition, there is another stage of life that must be planned for that many people
overlook. People are living longer lives these days and the possibility of incapacitation is
very real. The Alzheimer's Association states that around four out of every ten people,
who are eight-five years of age and older, have the disease. This illness can rob its
victims of the ability to make sound medical and financial decisions.

This is why estate planning attorneys will recommend durable powers of attorney. Since
they are “durable” they remain in effect after the incapacitation of the grantor, unlike
other powers of attorney. Many people will execute a durable power of attorney for
health care and one for financial matters and name a different person to act as attorney-
in-fact for each respective purpose.

Incapacity planning is an important component to any comprehensive aging strategy. If
you were to be deemed incapable of making your own decisions without having
executed these documents, the court can appoint a guardian and you would become a
ward of the state. So, if you do not have your powers of attorney in place, simply contact
an experienced elder law attorney and take action to protect yourself and ensure that
potential decision makers of your own choosing are in place.

Experienced estate planning attorneys Garden City NY of the Law Offices of Saul
Kobrick P.C. offers estate planning and business planning resources to residents of
Garden City NY. To learn more about these free resources, please visit
www.kobricklaw.com today.

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