The Importance of a Financial POA
Did You Know? Did you know that the longest novel ever written is “In Search of Lost Time” by Marcel Proust, with over 1.2 million words? Or that the most expensive book ever sold was Leonardo da Vinci’s “Codex Leicester,” purchased by Bill Gates for a whopping $30.8 million? While these crazy facts about books seem too crazy to be true, it doesn’t stop there! Check out these quick book tidbits! The world’s smallest book is “Teeny Ted from Turnip Town,” measuring just 70 micrometers by 100 micrometers. The world’s largest book is “This the Prophet Mohamed,” which weighs a hefty 3,306 pounds and measures 16.40 x 26.44 feet.
Securing Your Future and Legacy
The show goes on whether or not you are there to take part in it. There may come a day when you need to pay debts or make important financial or business decisions but cannot because of incapacitation or being otherwise unavailable. This is why establishing a Financial Power of Attorney could be key to securing your future and legacy. WHO NEEDS A FINANCIAL POWER OF ATTORNEY? A Financial Power of Attorney (POA) has the ability to conduct business in your stead. Anyone dealing with large business decisions, handling expensive assets, facing deadlines on debts, or caring for dependent children can benefit from establishing one. DRAFTING YOUR DOCUMENT Your Financial POA document must specify who you have chosen, what powers they will have, the circumstances that must be present for them to execute their authority, and how the POA can be revoked. You, the chosen individual, and a notary public must sign off on the document for it to go into effect. CHOOSING THE RIGHT PERSON Naming a Financial Power of Attorney is not as simple as just picking someone just to have one in place. This individual should be someone you trust with your life. They need to be financially savvy and familiar with the matters you have them dealing with, including potential real estate matters, the inner workings of your business, your financial accounts, and deadlines. Remember that nothing requires choosing a family member or a business partner. This person should, however, be accessible if something suddenly makes you unavailable to make decisions for yourself. At Dahl Law Group, we prioritize making the right decisions. We can draft your POA documents to ensure you have durable coverage for financial and business decisions when needed. Contact our offices, and we will not only help you draft your documents but also assist you in appointing the right person for the job.
The Bible is the best-selling book of all time, with over 5 billion copies sold and distributed.
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