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Part of good estate planning involves granting one trusted person the authority to handle major issues. Bills, contracts, and other life issues rarely wait while a family endures the hardship of losing a loved one. Health care decisions can be settled via a living will and appointing a health care agent, or granting someone health care power of attorney, but there are important reasons why an estate plan should include a power of attorney document.
Power of Attorney is the authority granted when one person, called a principal, signs a legal document giving someone else the authority to make legal or financial decisions on his behalf. These documents can be used in the event of severe and incapacitating illness, or during large or difficult transactions. They can even be used to authorize an agent to pay the bills and take care of basic tasks while the family goes on extended vacation.
Lawyer Salary: From the U.S. Department of Labor: In May 2008, the median annual wages of all wage-and-salaried lawyers were $110,590. The middle half of the ...