Protect your assets with a power of attorney.
In the event that you are incapacitated, out of the country, or otherwise unavailable, a power of attorney has the right to step into your shoes and act on your behalf, with the power to manage your financial transactions.
The challenge with assigning a power of attorney is that without the right precautions, you could put yourself at risk when signing a power of attorney for access to manage your assets, bank accounts, and even make changes or reversals to your life insurance beneficiaries.
Assigning a power of attorney is a good precaution for anyone looking to protect his or her assets in the unlikely event that something should happen to you by selecting a person to act in your best interest. We don’t always recommend selecting a family member or friend to be your power of attorney, as they may not best represent your needs in the event of your incapacitation. However, there are some precautions you can take when assigning your power of attorney.
While there have been cases where this power has been abused, assigning a power of attorney ensures your wishes and your assets are protected when you can no longer represent yourself. At Meadows & Aderhold, we help protect individuals in the Clemmons, North Carolina area to understand the process of setting up a power of attorney and how to protect you to ensure you are always in control.
When establishing your power of attorney, we will work with you to ensure there are limitations to the control they have over your estate, such as a limitation to revoke any earlier arrangements you have made. You may also select to place limitations on the types of transactions your power of attorney is qualified to make on your behalf, as well as which accounts they would have access to. At Meadows & Aderhold, P.A., we will protect your assets with a power of attorney arrangement you can rely on. Call us today to discuss your needs, we’re happy to help.