Durable Powers of Attorney - Asset Management

A Durable Power of Attorney is a document designating an individual, which can be a family member or friend, to manage your assets or your healthcare needs in your absence. Should you become incapacitated physically and/or mentally (one or two physicians would have to certify this), then the individual you have chosen would automatically be able to manage your assets until such time as you were able to do this yourself once again.

You should choose someone with particular financial skills, someone who can prudently and conservatively handle your property and investments on your behalf and for your family and future heirs. This can involve taking care of rental properties or even paying the mortgage and bills for your current home. This is a much better alternative to a conservatorship where a court appointed representative ends up managing all your assets.

Steven Sears, Attorney, CPA, Irvine, CA www.stevensearsattorney.com