Earlier in the week I met with a lady in Mandeville who posed the question, “If both my husband’s and my names are on all of our accounts, why do we need power of attorney for one another?” Well, the answer may surprise you.
Louisiana Power of Attorney covers a whole lot more than the ability to perform banking and financial transactions for one another. If a loved one becomes incapacitated without a Power of Attorney in place, you will be unable to perform a number of vital functions for that loved one and will be forced to go through a lengthy and expensive court process known as an interdiction. You will be unable to file tax returns, sell or transfer real estate, represent that loved one in lawsuits, or accept inheritances and donations on their behalf.
Power of Attorney is an integral part of every Louisiana Estate Plan we create, and can be described as the most important document you can have during your lifetime. To explore the easiest way to plan your Louisiana Estate, including the best way to structure your Powers of Attorney, call (504) 274-1980 in the Metairie and New Orleans Area or call (985) 246-3020 in Mandeville, Covington, Slidell, Houma, Thibodaux, and surrounding areas.