Great question! You grant your daughter the power to act by creating well drafted Durable Power of Attorney form.
A “Power of Attorney” is a document where a person authorizes another to act legally for them as if that person were them. Of the five estate planning documents all of us must have while alive, regardless of the amount of wealth we have, (Will, Durable General Power of Attorney for Financial Matters, Health Care Power of Attorney for Health Related Matters with HIPPA form, Health Care Directive and Community Property Agreement if married), the two Power of Attorneys are the most important.
It is imperative that we have someone empowered to carry on our affairs should we suddenly not be able to due to an accident, stroke, incapacity, or we’re simply too old to do so. Without it, expensive, invasive court proceedings such as Guardianships become necessary.
Not all Durable Power of Attorney forms are created equally so be sure to use an experienced attorney to ensure all necessary language gets included. Care must be given as to who can act and when.
To learn more, attend a FREE Elder Law/Estate Planning Workshop, or call to schedule a FREE consultation.