Power of Attorney for Couples – When Is It Needed?

Couples can benefit from hiring lawyers in North Vancouver to give someone power of attorney. There are many ways a power of attorney can help couples, even those who are still in a right frame of mind. Here are the times when Litigation Lawyers in Vancouver such as Lakes, Whyte LLP is needed for couples:

1. You foresee a long future together.

Even when you still have full grasp of your mental faculties, it makes sense to appoint each other power of attorney to oversee all of your financial matters. The future can be long and unpredictable so you would want to make sure you both have access to your investments, businesses and finances.

2. You have a spouse who has an illness that prevents making mentally sound decisions.

If one spouse is ill and is not capable of making mentally sound decisions, now is the best time to create a power of attorney. It doesn’t have to be the other spouse. It can be another person such as a child who can decide in behalf of the person who is not capable of doing so.

3. You need help in dealing with finances.

Keeping track of expenses at home, paying bills, dealing with investments – these things can be difficult to oversee, especially if both spouses are busy. Appointing someone else with a power of attorney can ease up the load and help you distribute your financial planning work.

4. When one spouse do not like to be the recipient of the other spouse’s financial responsibilities.

There are cases when one spouse isn’t keen on inheriting businesses, debts or other things involving the financial responsibilities of the other spouse. A power of attorney can be given to another person to oversee these things.

These are the instances when a law firm’s help is needed. Create a power of attorney to act as your third set of eyes and pair of hands.

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