By Paul Schmitt
When it comes to important documents included in your estate plan, the durable financial power of attorney is a key component to have in place. The power of attorney allows for someone else to manage your finances in the event you become incapacitated and are unable to make those decisions yourself. Attorney Stacy Vogeltanz from Ross Estate Planning in Sturgeon Bay says the spouse does not automatically have access to all financial accounts.
Vogeltanz recommends that if anyone places one of their children as the financial power of attorney it should not necessarily be the oldest but rather the one you feel is most fiscally qualified to handle your financial issues. This is the second in a series on the power of attorney, last week dealt with health care power of attorney.