Best In Wealth - Best Practices For Real People, Investments, Retirement Planning, Money Management, Wealth Building, Financi

What is a financial power of attorney? The financial power of attorney is a legal document where you specify individuals to act on your behalf in financial matters if/when you become incapacitated. If you become incapacitated, someone still has to pay your bills. Who is going to do it? Life must go on. If you do not have a financial power of attorney, who makes the decisions? The court. So many people do not have any estate planning documents because they think they are too young. They think they are too busy to get it done. They are worried that it is too expensive. So they do nothing. But that is the wrong decision. In this episode of Best in Wealth, I am going to walk you through answering four questions: Who will be your financial power of attorney? What financial powers do they have? When are you granting these powers? Why did you choose this person? If you do not have a designated financial power of attorney, let this episode be the first step you take toward making this important decision.