Scottsdale Estate Planning: Why You Need a Durable Power of Attorney
Developing an estate plan is a necessary step to sound financial planning. One of the most important Scottsdale estate planning documents is a durable power of attorney. If you become mentally or physically incapacitated, you want someone you trust to be able to step in and make important financial decisions in your stead. Whether it's paying bills, authorizing the sale of stocks, or entering into contracts, a durable power of attorney is an agent appointed by you to act on your behalf in important financial and legal transactions. Below, the financial advisors at WealthTrust Arizona offer some useful information about why you need a durable power of attorney as part of your estate plan.
You may have put off estate planning because you're relatively young and in good physical health. Accidents happen all the time, however, and it is critical that you make arrangements for an unforeseen event that may render you physically or mentally incapable of managing your own finances. Without a durable power of attorney in place, your family may be forced to petition a court to appoint a conservator or guardian to manage your affairs. Why leave important financial decisions to strangers? It is better to appoint someone you trust ahead of time in the event that the unthinkable happens.
A durable power of attorney can be as broad or as narrow as you see fit. Whether you want to give your agent the authority to make a wide range of decisions or only a few, a durable power of attorney will ensure that someone you trust is making those decisions. Call (480) 483-7300 today to learn more about the Scottsdale estate planning and financial advising services available from WealthTrust Arizona, in partnership with your estate planning law firm.
Advisory services offered through WealthTrust Arizona, a registered investment advisor. WealthTrust Arizona does not engage in the trust business in the state of Arizona or in any other jurisdiction. Not FDIC insured. Not bank guaranteed. May lose value, including loss of principal. Not insured by any state or federal agency.
The professionals at WealthTrust Arizona are not attorneys and do not provide any legal advice or review legal documents.