Finances After Incapacitation in California

When an individual is no longer able to handle their own affairs, they may be concerned about the future of their estate, their legal matters, and their finances. Becoming incapacitated, meaning that a person can no longer care for themselves, often happens unexpectedly and the individual may not have prepared for this unfortunate turn of events. It is important to appoint a trusted individual to handle one’s affairs if they are no longer able to do so.

This can often be done by executing a power of attorney. The agent that is chosen to act in this way will make sure the individual’s bills are paid, taxes are filed, and handle all other responsibilities that have been outlined in the power of attorney paperwork. It is important to choose an individual that can be trusted to have access to one’s personal information, bank account, and other important matters. The worst thing that can happen is if the power of attorney that is chosen takes advantage of the individual who has become incapacitated and mismanages finances or even steals money from someone who is so vulnerable. Often, individuals choose to create a springing power of attorney that will only go into effect in the event of his or her incapacitation.

It is important to discuss this matter with an experienced attorney who can help you include such an essential matter into your comprehensive estate plan. If you have questions about power of attorney, contact our firm today and we will be happy to assist you.

Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.

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