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An interesting article has appeared in today’s Wall Street Journal regarding the option of Power of Attorney. Women in particular need to be well informed about this option because they usually outlive their partners and need to ensure that their needs, both financial and otherwise, are looked after in unforeseen events.
Appointing a Power of Attorney you are effectively transferring your freedom of choice and decision to another party should you ever become unable to make such choice and decisions for yourself. Very often it is a woman who takes P of A over a spouse or parent, but we can find ourselves in such a situation as well.
You need to ensure that whoever you appoint will serve your needs as best as you would youself. This is best done in consultation with your lawyer and make darn sure that whatever you decide on is exactly what you want and will be followed to the letter later on.
In many cases it is one of the most important decisions you will ever make.
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