Friday, July 15, 2011

Divorce - When Should I update My Powers of Attorney

Another estate planning matter that must be addressed at the time of divorce is your powers of attorney.

(1) If you have powers of attorney naming each other as agents, then 9 times out of 10 you do not want your ex-spouse to handle your affairs when you are incapacitated.

(2) If you do not have any powers of attorney, it is even more important to get them done.

You need to appoint someone to handle your financial affairs (paying bills, dealing with the bank, etc.) when you are unable to do these things yourself. You also want someone to be able to talk with doctors or review your medical information when you are unable to address medical situations yourself.

Don't let a divorce just happen to you. Take a collaborative approach that helps you address the financial, emotional and more importantly those estate planning issues that could get overlooked and lead to real complications. Contact us at www.ythlaw.com for estate planning, probate and elder law needs.

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