During estate administration, individuals have to decide important people to help with the process. These aspects of their estate, whether it includes their health or their assets, can be found in their will. They may wish to appoint someone as their power of attorney to represent their wishes when they are unable to do so themselves due to an unclear state of mind. With this role, the power of attorney has a lot of power for that individual. They take on the role as their agent. They will act according to the wishes that were laid out for them by the individual who is giving them this role.
As a power of attorney, you have been trusted with a powerful role. Through a legal document, it establishes that a power of attorney has the authority to act for another person. People may wish to choose a friend, family member or even a business entity as their power of attorney. In the end, they should choose someone that they trust to make important decisions for them. With a role as power of attorney, you may have a certain amount of power based on the how much power was given to you by the individual you are supposed to represent.
What else is included in a will?
In a will, an individual can also name their executor and beneficiaries of their estate. The executor has certain responsibilities to carry out while beneficiaries do not have as much to accomplish. The executor is the individual who will file the will after the individual dies. They also have to look into the deceased’s expenses to make sure they paid off any outstanding debts. In this role, they may have to meet with professionals, such as accountants and attorneys, to complete their required tasks. Another task the executor has to complete is collecting all the assets that are to be distributed. The beneficiaries are the individuals that are receiving an asset or possession that is part of the deceased’s estate. These individuals benefit by receiving part of the estate.
Stone Crosby, P.C. has proudly served clients in Alabama for over 100 years. Our firm has experience handling matters including divorce and family law, estate planning and administration, business law, employment law, class actions, consumer protection, business law, real estate law, among many others. If you require quality legal representation, contact our firm today to schedule a consultation.