An Executor and the Power Of Attorney
Estate planning is complicated. There are all sorts of terms and procedures that must be known and followed in order to ensure a legally binding document that will ensure that your estate is taken care of as you see fit. One question that comes up often is, “Do I need both a power of attorney and executor?” The answer is, yes you do. The reason for this is because the executor and a power of attorney can be two different people. Someday you will be able to attend to your own personal and financial affairs as you age. It’s at this point that you will need to name someone to be your power of attorney. This person should be somebody you can trust with your day-to-day finances and your daily medical issues. And this person may be someone entirely different than the executor.
The executor is the person that you choose to take care of your affairs after you have died. So, essentially the executor is the person that is going to be the one to liquidate your estate. The executor deals with your affairs after you have left this world, while a power of attorney deals with your affairs why you’re still alive. So, because these two people have two completely different roles, it’s clear to see why you would need both. It is possible that you can have the same person as your executor and power of attorney. But, you must have it lined out legally that that person is going to handle both roles.
Estate Planning Attorney in Sachse, Texas
We understand that all this may seem complicated, and to be honest, in order to ensure a smooth transaction and liquidation of your estate you must make sure that you have the proper documents in line. Because of this, we suggest that you team up with the skilled law team that specializes in Estate Planning. Edmondson Law, PLLC is a law firm located conveniently in the Wylie, Sachse, and Murphy area. If you want to plan ahead to ensure that everything is in order as you age, then please don’t delay and give our offices a call.
Information, Not Legal Advice. We provide the information on this website as a public service. The legal landscape is constantly changing and being modified by state law and case law. As a result, we cannot promise that this information is always up-to-date and reflective of the most current jurisprudence.
We do not intend this information to be legal advice. By providing this information, we are not acting as your lawyer. If you need legal advice, you should contact a lawyer through our number (972) 442-8326 or contact another attorney of your choosing.