Should spouses have power of attorney for each other?

When a couple gets married, there may be situations where they have to spend a lot of time apart. Often, a career means that a couple will spend time apart and it often doesn’t allow for much notice. Of course, when the couple is frequently apart, there may come a time when one spouse needs to sign on behalf of another for an important financial matter.

For example, let’s say a married couple is purchasing a home but one of the spouses is away on military duty so they will not be able to be there on closing day. Of course, this can add another level of stress to the already stressful situation. One of the ways to overcome this situation is to obtain a power of attorney that allows one spouse to make the purchase on behalf of the couple. On closing day, the spouse that is able to be present can sign for themselves and for their spouse.

A power of attorney can be general, meaning that it allows one spouse to sign on behalf of the other for any matter that requires their legal signature. Some opt for specialized powers of attorney that are only applicable to the situation at hand (i.e. buying a house) but not for any other matters. Married couples may want to speak with an experienced estate planning attorney to see how this may benefit them.

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 for a consultation today.

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