Merits of Having A Power of Attorney
Having the power of attorney can benefit you in many ways. One of the main advantages of having the power of attorney is that it allows you to hand over you’re your affairs to someone easily. When you have the power of attorney you will have an opportunity to choose your own agent, who will assist you to make important decisions. You will therefore not go through the long court procedures to have your decisions made. Being in possession of the power of attorney, gives you the authority to control the extent to which your agent can exercise his/her powers. Your agent can also be held accountable of their daily dealings, by the power of attorney.
Having the power of attorney also helps you to manage all your resources conveniently which is an added benefit. In the event of an illness, you can still handle your assets when you have the power of attorney. All you legal or managerial decisions will be taken on your behalf even when you are rendered incapacitated. You will only have to ensure that you have a lawyer who will help you to monitor your agent and ensure that the power of attorney is adhered to the letter.
Another advantage of having the power of attorney is that it is the safest way to manage and handle all your assets. When you have the power of attorney you will be able to hold your agent to accountability for the decisions he/she makes with your property and assets. All you assets will not be liable to misuse or being taken advantage of and this will give you peace. Should your agent fail to deliver as tasked, you can quickly take to litigation with the power of attorney. There are situations in which the power of attorney can be used as evidence in the court. Having the power of attorney is therefore the wisest decision to take.
Another significant merit of having the power of attorney is that you can comfortably change your agent when you feel less comfortable with them. The power of attorney gives you the free will to choose a reliable attorney anytime. In this case you will be able to appoint several agents at once depending on the number of assets you have when you have the power of attorney. By choosing many agents you can also advise your agents to make decisions together in unison and this can only make their decisions better. To sum it up, the power of attorney is the most convenient way to deal with the uncertainty of life as it ensures that your assets are managed professionally in case you are sick, and you will also have a chance of enjoying the above advantages.