Power of Attorney Preparation in PA
Do you know what a power of attorney is? When your aging parent has appointed you as their power of attorney, it basically gives you the power to make sound decisions regarding their finances or health on their behalf. This is common when a parent becomes unable to manage on their own, such as when they become diagnosed with Alzheimer’s, Dementia, Parkinsons or just no longer of sound mind.
Your mother or father has been taking care of you many times throughout your life, and as the power of attorney, it means you are now the one taking care of your parent. This can be beneficial to prevent your loved one from being conned or spending money when they are at their most vulnerable. People unfortunately take advantage of senior citizens, so it is important to get this paperwork in place.
The person who gives you the Power of Attorney is named the “Principal” while you act as the “Fiduciary” who is responsible for money and trust management. The assets must be kept separate from your own finances and you must legally exercise prudence and caution with regards to spending.
Larry Lefkowitz offers services to help you reach Power of Attorney in PA for one flat, fixed rate. His goal is to help you through this time of transition as smoothly as possible, and without any hidden costs. You can achieve an affordable Power of Attorney in Philadelphia or Bensalem by choosing Larry the Lawyer, with almost 30 years of experience to get it done right.