In thinking through your estate plan, a document you should consider is a Durable Power of Attorney (DPOA). This is a document that gives someone else the power to legally sign documents and make decisions on your behalf. Without adequate safeguards, this can be a dangerous document because that person could possibly use it against your better interest.
The primary purpose of a DPOA in estate planning is to name someone else (usually your spouse or friend or family member you trust) as your attorney-in-fact (your agent), to become effective if and only if you ever become mentally incapacitated in the future. If you never lost capacity, this document could never be used. If you do become incapacitated, your DPOA could take care of your personal and financial affairs without the necessity of petitioning the Court to set up a guardianship. You can have a DPOA for financial matters and separate power of attorney for health care decisions. In Washington, you can also have a power of attorney to appoint someone to make health care decisions for your minor children in the event you and the other parent become incapacitated or are otherwise unavailable.
Another consideration is to have a DPOA for an adult child (over age 18) who is not married. If they do not have a power of attorney, and become incapacitated (as a result of an illness or injury), then it may be necessary to go thought the expense of a guardianship to legally care for them. They are no longer minors that you have the legal authority over. This becomes relevant as they graduate from high school or enter life on their own.
If we can be of assistance to you, your family, friends, neighbors, or coworkers, give us a call at 253.858.5434 to set up an appointment today. We proudly represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.