It’s never too early to put together an estate plan in Tennessee. You never know what will happen in the future, so it is important that you establish a plan in case something bad happens to you in the future. One of the most important parts of estate planning is naming a power of attorney.
Power of attorney
Power of attorney is a legal document commonly found in estate plans where you choose someone to handle tasks for you in the event that you can no longer handle these tasks yourself. These tasks can include things such as making medical decisions, handling your finances, paying your monthly bills and more.
The document will only be seen as legit if you put it together when you are healthy and still have a sound mind. This means you can’t quickly put the document together the moment you need it, which is why it is essential to finalize your estate plan while you’re still young and healthy. An attorney with experience in wills and estates may be able to help.
Why a power of attorney is beneficial
If you are not able to handle your own medical or financial arrangements, the world won’t magically stop and wait for you to get better. Your bills will still need to get paid, and life decisions still need to be made. Using the power of attorney to choose a few agents to operate on your behalf will allow your life to keep moving until you are able to reclaim your responsibilities.
The agents you choose are not set in stone either. If you decide that you want to change or revoke one of your agent’s powers, you can always do so as long as you are still mentally competent.