What does a power of attorney accomplish?
When you create a living trust, a legal entity is established for the maintenance and care of your assets and estate. In the event that you leave the country or become incapacitated, the Power of Attorney allows you to designate an individual to act on your behalf in managing your affairs, usually on a temporary basis. In the extreme example, a Power of Attorney will enable your designee to transfer for you, many of the remaining assets that, because of an incapacity you could not transfer to your trust yourself.
In the event that you leave the country, become incapacitated or incompetent, the Power of Attorney allows you to designate an individual to act on your behalf in managing your affairs, usually on a temporary basis. If you have a Living Trust and in extreme cases, a Power of Attorney will enable your designeee or agent to transfer for you, many of the remaining assets that, because of being incapacitated, you couldn’t transfer to your trust yourself.
