Advantages of Having a Power of Attorney
Having the power of attorney can benefit you in many ways. Having the power of attorney allows you to hand over your affairs to someone very conveniently which is a major benefit. You will have an opportunity to choose your own agent, who in turn, will assist you to make managerial decisions, when you have the power of attorney. Therefore, you will not have to go through the long court procedures to make decisions. You will also have the power to control the extent to which your agent can exercise his/her power due to the power of attorney. You can also hold your agent accountable of their dealings by the power of attorney.
Another significant merit of having the power of attorney is that it helps you to manage all your resources conveniently. In the event of an illness, you can still handle your assets when you have the power of attorney. All you legal or managerial decisions will be taken on your behalf even when you are rendered incapacitated. Ensuring that you have a lawyer is all you will have to do, as the lawyer will monitor the agent to ensure that the power of attorney is adhered to.
Another advantage of having the power of attorney is that it is the safest way to manage and handle all your assets. The power of attorney ensures that your agent is held accountable for all the managerial decisions he/she make with your property and assets. In this case, you will rest assured that your assets will not be liable to misuse or taken advantage of You can take to litigation, should your agent fail to deliver as tasked with the power of attorney. There are situations in which the power of attorney can be used as evidence in the court. Therefore having the power of attorney s the wisest decision to make.
Having the power of attorney allows you to comfortably change your attorney should you feel less comfortable with them which is an added advantage. The power of attorney gives you the free will to choose a reliable attorney anytime. In this case you will be able to appoint several agents at once depending on the number of assets you have when you have the power of attorney. By choosing many agents you can also advise your agents to make decisions together in unison and this can only make their decisions better. In conclusion, having the power of attorney is the most convenient way to deal with the uncertainty of life, due to death or even illness all your assets will be managed professionally and you will have an opportunity to enjoy the above advantages.