When Does a Power of Attorney Become Effective?

A power of attorney (poa) is a document that most people have a general understanding of, but you may wonder why a POA would be relevant when you are planning your estate. A comprehensive estate plan will go beyond asset transfer vehicles. You also want to address the eventualities of aging. People are living longer and longer lives, and it becomes likely that you will live into your eighties if you are fortunate enough to reach the age of 65. The oldest segment of the population is growing faster than any other according to the Census Bureau. Given the fact that longer lives are becoming common, incapacity planning is more and more important. If you reach an advanced age, you may become unable to make sound decisions on your own. The rise of Alzheimer s disease alone is enough to make incapacity planning a must. The Alzheimer s Association is a good source of information on the disease. According to their website, 45 percent of people who are at least 85 have the disease. This disea


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