Is It Necessary to Denote a Power of Attorney?

When preparing your will, you may ask yourself if you need to denote a power of attorney. In order to answer this question for yourself, it is important to understand what exactly a power of attorney is, and how it plays a role in the executing of your will.

What Is a Power of Attorney?

A power of attorney is an individual who for all intents and purposes has the legal ability to make any financial decisions on your behalf. This is necessary for dealing with banks, investments, creditors, and debtors of the deceased. You might be wondering if this is so essential how it can will not include a power of attorney.

What Happens Without Power of Attorney?

If no power of attorney is listed in the will, or an executor, the court usually appoints one for you, and it is usually the spouse of next of kin.

This is the reason you’ll usually want to appoint someone to have power of attorney for you. You’ll want to make sure the person handling your finances and preparing the estate for passing down to your beneficiaries is someone you can trust and who will carry out the will properly.

If you are working on writing your last will and testament or looking for more information on how to deal with the planning of passing on your estate, an estate planning attorney in Las Vegas may be able to help you.