Each year people die who have not prepared a will. When this occurs, the law dictates how an individual's property is distributed, and a court may pick the guardian of your children. Dying without an estate plan can also increase the likelihood that your surviving loved ones will not be cared for. Too many people put off addressing these important issues. Don't let it happen to you.
Sound Advice About Massachusetts Wills and Trusts
For reliable advice about the estate planning options that are best matched to your family's circumstances and objectives, contact a trusts and estates lawyer at Seder & Chandler. With offices in Worcester and Westborough, we serve the needs of estate planning clients throughout central Massachusetts and Metro West Boston.
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With substantial experience in business law, taxation, family law, elder law and probate litigation, Seder & Chandler offers its clients fully integrated client service across the entire spectrum of complex estate planning issues. Contact us at either of our two locations to learn how we can help you and your family.
The versatile estate planning attorneys of Seder & Chandler help Massachusetts families with substantial assets achieve a variety of goals, whether they involve circumventing the probate process, elder care planning, business succession or avoiding costly estate taxes. Contact us at our Worcester or Westborough law offices for more information about our estate planning practice.
Powers of Attorney
A power of attorney is a legal document in which a person (the principal) designates and authorizes another person (the agent or attorney-in-fact) to transact business or make certain decisions on his or her behalf. When a power of attorney is in effect, the agent essentially steps into the shoes of the principal and makes decisions that are legally binding on the principal. Powers of attorney can grant broad, general authority (known as a general power of attorney) or they can limit the attorney-in-fact's power to act on behalf of the principal to particular situations (known as a special power of attorney). Because there are many different types of powers of attorney available to address a variety of situations, powers of attorney are extremely useful estate planning tools. If you are interested in drafting a power of attorney, contact Seder & Chandler, LLP in Worcester, Massachusetts, to schedule a consultation with an estate planning attorney.
Durable Powers of Attorney
In general, the authority granted under a power of attorney terminates upon the death or incapacity of the principal. On the other hand, a durable power of attorney remains in effect or becomes effective if the principal becomes incapacitated or mentally incompetent. Because a durable power of attorney remains in effect during the principal's incapacity or becomes effective only if the principal becomes incapacitated, a person can sign a durable power of attorney to prepare for the possibility that he or she may become unable to manage his or her financial, medical or other affairs.
Powers of Attorney for Medical Care
A power of attorney for healthcare (also called a medical directive, an advance directive, a physician's directive, a written directive or a durable power of attorney for healthcare) allows a person to grant another person the authority to make healthcare decisions on his or her behalf while he or she is unconscious or if he or she becomes mentally incompetent or otherwise incapacitated. A health care proxy (also called a proxy directive) is a legal document by which a person designates another person to make healthcare decisions regardless of his or her incapacity.
Another estate planning tool authorized by law in many jurisdictions is a living will. A living will (also called a declaration of a desire for a natural death or a directive to physicians) allows a person who is unconscious or incapacitated to express his or her desires regarding the use of extraordinary measures to extend his or her life when there is no reasonable expectation that he or she will regain consciousness or recover.
Even if you have a legally enforceable power of attorney for healthcare, health care proxy or living will, your should discuss fully your preferences regarding medical care with the person or persons you have designated to make healthcare decisions on your behalf.
Powers of Attorney for Financial or Property Transactions
A power of attorney can also be used by a person to grant another person the authority to manage his or her finances, buy or sell property, file tax returns or handle other legal transactions on his or her behalf. However, there are a few powers that a person may not typically delegate to his or her agent. For example, a person may not legally authorize his or her agent to prepare a will, vote or seek a divorce on his or her behalf.
Conclusion
Comprehensive estate planning typically includes documents to protect an individual’s interests during his or her lifetime as well as documents to ensure that his or her wishes will be carried out after his or her death. If you have questions about powers of attorney or other estate planning tools, contact an estate planning lawyer at Seder & Chandler, LLP in Worcester, Massachusetts, to schedule a consultation.
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