Posted on: Apr 19, 2017
An attorney in fact (AIF) is an agent authorized to act on behalf of another person. Your AIF will handle your financial affairs or health care decisions in the event that you become incapacitated.
Durable Power of Attorney
It is important for everyone to execute a Durable Power of Attorney (“DPOA”) through which a trusted individual is authorized to act on your behalf.
- A General Durable Power of Attorney is a legal document that names your AIF to manage your financial affairs. It does not take away your authority as long as you are capable of making decisions.
- A Durable Power of Attorney for Health Care Decisions is a document that names your AIF to be your voice for medical decisions. It does not take away your authority as long as you are capable of making decisions regarding your own care.
These are essential Estate Planning documents.
Choosing Your Attorney In Fact
The person you select as your AIF should be someone you trust implicitly to follow your wishes. An AIF is not necessarily a licensed attorney. You may select anybody to be your AIF. Consider the following when making your selection:
- Is this person trustworthy, competent, and responsible?
- Will this person be willing and able to make decisions on your behalf if you become incapacitated?
- Regarding financial affairs: is this someone who is adept with managing finances?
- Will this person require payment for serving as your AIF? Family members may act as your AIF at no charge, whereas an attorney or accountant is likely to charge a fee.
The experienced Elder Law Attorneys of Elder Law Group PLLC will work hand-in-hand with you to design an Estate Plan that is best tailored to meet your objectives and preserve your assets.
Our Estate Planning practice goes beyond the traditional realm of Wills and Trusts, Durable Powers of Attorney, and Health Care Directives. We address the legal and social issues affecting seniors, the disabled, vulnerable adults, and their families. Our goal is to address every contingency you and your family may face with aging, illness, or incapacity.
Contact us or call (509) 468-0551 (Spokane office), or (509) 579-0206 (Tri-Cities office), for personal, compassionate guidance in Estate Planning and Elder Law.