Elk River Power of Attorney Lawyer

Power of Attorney Lawyer In Elk River

It can be difficult and even a bit confusing to establish a strong estate plan on your own without the help of an Elk River experienced estate planning lawyer. You will want to ensure you clarify all the important decisions regarding your future and the detailed plans you are leaving behind for your loved ones when you pass away.

One of the most significant decisions is ensuring that someone you trust has power of attorney. An Elk River power of attorney lawyer can help you establish it.The dedicated legal team at Trek & Trust Law can provide you with the resources and knowledge you will need to establish a durable power of attorney with the right person. You may need some time to truly consider all your options and make sure you choose someone you can trust wholeheartedly. Your power of attorney lawyer can also assist in all of the other elements of your estate plan that you have to consider, such as wills, living trusts, and designated beneficiaries.

What Is a Power of Attorney?

Many people who choose to establish a valid estate plan do so because they are getting older and have to start considering their own mortality. It’s not uncommon for people to suddenly suffer a debilitating illness that leaves them incapable of making their own decisions when it comes to their own assets or medical needs. Power of attorney provides someone you trust with the ability to make those decisions for you based on what you need.

For a power of attorney to be considered durable in Minnesota, the document that grants the power has to explicitly state that the power of attorney remains in effect even if the principal, being you, becomes incapacitated. This is generally done by including a durable clause in the power of attorney document. Your lawyer can help walk you through all of your options and ensure that you establish exactly what you will need to make this process work for you.

Giving someone you trust power of attorney over your estate and/or medical needs really only becomes relevant and necessary if something were to happen to you that makes you unable to make important life decisions for yourself. You can grant someone either limited or full power of attorney, depending on how much control you feel comfortable surrendering to a loved one. Ultimately, the goal is still to protect yourself and your assets.

According to recent data gathered by the U.S. Census Bureau, the average median household income in Elk River was around $99,000 as of 2023. That’s a considerably high income for many people, and it’s not unreasonable to assume someone who maintains that level of income will want to put together a solid estate plan for their assets. Part of that plan includes choosing someone to have power of attorney.

Benefits of Power of Attorney

There are many different benefits of giving someone power of attorney that you may not even have considered. It can be good to consider all the benefits before moving forward with your estate plan. Here are some of those important benefits:

• Navigating Intestate Laws: If you were to pass away without a plan in place, Minnesota’s intestate succession laws will determine the distribution of your assets. The court will appoint someone to oversee the asset distribution, prioritizing your closest relatives. If someone has power of attorney, they can act on the principal’s behalf, which can avoid certain aspects of intestate laws and ensure your assets are protected.
• Peace of Mind: Above all, having someone you can trust to handle your estate in your absence can provide you with peace of mind. It can be good to know that someone is there to ensure things go smoothly if something happens to you.

FAQs

Contact Us Today – Dedicated and Compassionate Power of Attorney Law Firm

At Trek & Trust Law, we can help you establish a solid estate plan that includes a power of attorney. Contact us to speak to a trusted team member about your questions and to set up a consultation.