A Power of Attorney for Finances is your directive of what you want to happen if you are unable you make your own financial decisions. It becomes effective when it is determined that you are unable to participate in your financial decisions. As a Grand Rapids estate planning attorney, I can help you develop a Power of Attorney for Finances customized for you and your desires by helping you address the following:
Financial Agent – you will appoint the person(s) you would like to make financial decisions for you if you are unable to make them. We call this person(s) your Financial Agent. He/she must accept this role by signing your Power of Attorney for Finances.
Authority Granted – you will list the specific authority you are giving your Financial Agent.
Desires for your Family – you will specify how you would like your Financial Agent to provide for you and your family from your assets while you are living.
Conservator – you will nominate the person(s) who you would like to oversee your finances if for some reason it is required by law. This person is called a Conservator. The probate court will make the decision, but in almost all instances the court will honor the person you nominate in your will.