Cassady Law Offices, P.C. - Las Vegas Estate Planning Attorney
Call for a free consultation
702-706-1083

Powers of attorney important in an estate plan

Many people in Las Vegas want to make sure that their affairs are in order in case of a sudden emergency or unexpected incapacity. However, it may not always be clear what types of safeguards are necessary in order for people to achieve their goals. For example, many married couples own a substantial amount of property as joint owners, from bank accounts to investment funds to their family home. They may wonder if they also need to give each other power of attorney for financial matters in case of incapacity or if joint ownership is sufficient to handle the matter.

A power of attorney is one of the most important documents that people can include as part of their estate planning. Unlike wills and trusts, which often are designed to go into effect after the creator's death, these are designed to ensure that financial, health care and other decisions can be made when the creator is unable to do so himself or herself. A power of attorney can give a person the right to engage in financial transactions on behalf of another person, for example. Alternately, it could give a named person the right to make critical health care decisions about an incapacitated, unresponsive patient.

In most cases, a power of attorney is not necessary for the other spouse to access jointly held property, like a joint bank account or credit card. However, some types of accounts, like 401(k)s and IRAs, can only have one account holder. In these cases, a power of attorney is necessary to allow someone else to manage the account.

Powers of attorney are just one type of important document that people can use to protect themselves and their plans for the future. An estate planning attorney may offer advice and guidance on wills, trusts and other estate documents.

No Comments

Leave a comment
Comment Information
Email Our Team

More Questions? We Have Answers.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Las Vegas Office
10799 West Twain Avenue
Las Vegas, NV 89135

Toll Free: 800-557-6423
Phone: 702-706-1083
Fax: 702-650-5561
Las Vegas Law Office Map

Henderson Office
2425 W. Horizon Ridge Pkwy.
Henderson, NV 89052

Toll Free: 800-557-6423
Phone: 702-706-1083
Map & Directions