Many people believe that if they become incapacitated in some way, their spouse or next-of-kin will automatically be able to handle their affairs for them. However, this is often not the case, which is why powers of attorney are so important. As Lance S. Cox Attorney at Law, a trusted Cincinnati estate planning and probate lawyer, explains, a power of attorney is a legal document that grants an “Agent,” usually a spouse or trusted family member, the power to act as your representative in a variety of important legal situations.

For example, if you and a spouse have joint ownership of a house or other real estate, your partner cannot sell the property without you, even if you are incapable of participating in the transaction. A power of attorney allows your spouse to manage your joint assets as needed, which is often necessary in demanding situations.

Retirement benefits are another area in which powers of attorney are often necessary. Without it, your spouse will not be able to request benefits or change disbursements, which could render them entirely helpless. The same is true of health care decisions. Under new regulations, hospitals, and other healthcare providers are required to deal only with authorized representatives, so it's a good idea to have a power of attorney in place before any emergency arises.

Establishing a plan before something happens can save your loved ones a great deal of stress. Visit Lance S. Cox Attorney at Law online to learn more about his comprehensive services, or just call (513) 528-6000 to schedule a consultation today.