Attorney In Fact
An attorney-in-fact plays a vital role in estate planning by managing affairs for the grantor under a power of attorney agreement.
When should someone appoint an attorney-in-fact in estate planning?
Appointing an attorney-in-fact becomes crucial when planning for situations where one may be unable to manage their financial affairs. This can be due to illness, absence, or incapacity. An attorney-in-fact, granted power through a legally binding document, can ensure that financial and legal decisions are handled according to the grantor's wishes. Designating this role in advance is a proactive step in making sure one's affairs are managed smoothly during unexpected scenarios, providing peace of mind and stability for their loved ones.
