Advantages of Having a Power of Attorney
When you have the power of attorney you will stand a chance of benefiting in several ways. A significant merit of having the power of attorney is that it allows you to hand over your affairs to someone easily. You will have an opportunity to choose your own agent, who in turn, will assist you to make managerial decisions, when you have the power of attorney. You will therefore not go through the long court procedures to have your decisions made. Having the power of attorney gives you the power to control the extent to which your agent powers reach. Your agent can also be held accountable of their daily dealings, by the power of attorney.
Another advantage of having the power of attorney is that it helps you to manage all your resources conveniently. You can still handle your assets conveniently even when you fall ill when you have the power of attorney. Your agent will also take all the financial, or legal decisions even if you are rendered incapacitated. All have to do is ensure that you have a lawyer who will help to monitor your agent and ensure that the power of attorney is adhered to the letter.
Another significant merit of having the power of attorney is that it is the safest way to manage and handle all your assets. When you have the power of attorney you will be able to hold your agent to accountability for the decisions he/she makes with your property and assets. All you assets will not be liable to misuse or being taken advantage of and this will give you peace. Should your agent fail to deliver as tasked, you can quickly take to litigation with the power of attorney. The power of attorney can also be used as evidence in the court of law in some situations. Therefore having the power of attorney s the wisest decision to make.
Having the power of attorney allows you to comfortably change your attorney should you feel less comfortable with them which is an added advantage. The power of attorney gives you the free will to choose a reliable attorney anytime. With the power of attorney, you are can chose to appoint several agents at once, based on your assets. You can also advise your agents to make decisions together in unison and thus they will make better decisions. To sum it up, the power of attorney is the most convenient way to deal with the uncertainty of life as it ensures that your assets are managed professionally in case you are sick, and you will also have a chance of enjoying the above advantages.