Durable Power of Attorney for Personal Financial Decisions

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A Durable Power of Attorney for Personal Financial Decisions is a document which allows an individual to avoid costly and time consuming conservatorship proceedings in the probate court in the event of incapacitation or disability. Such document must be created and signed prior to incapacitation or disability and will remain effective and valid during such period. Such document and the authority granted within terminates upon the death of the Principal. The Missouri Durable Power of Attorney Law is set forth in Chapter 404.700 of the Missouri Revised Statutes.

In a Durable Power of Attorney for Personal Financial Decisions the Principal  grants to the Attorney in Fact legal authority to manage the Principal's personal financial affairs in the event of and during the Principal's incapacitation or disability. The authority granted to the Attorney in Fact normally includes all legal rights and powers the Principal would be able to exercise as a competent individual, including the authority to manage bank accounts, investment accounts, government benefits, real estate, personal property, insurance policies and so on.

A Durable Power of Attorney for Personal Financial Decisions is a critical component of any individual's estate plan. Without such document in place should an individual become incapacitated or disabled then such individual's family or loved ones would be required to petition the local probate court and institute a formal court proceeding known as conservatorship.

A conservatorship proceeding is costly and continues as long as the individual remains incapacitated or disabled. It is a court supervised proceeding requiring annual accountings which are audited by the court. In addition, the services of an Attorney are required, which can be very expensive. You may easily avoid such unnecessary proceeding by creating a Durable Power of Attorney for Personal Financial Decisions while you are competent.

To create a Durable Power of Attorney for Personal Financial Decisions please review and complete the Request Form found on this website. The document drafted and provided to you will incorporate the provisions of the Missouri Durable Power of Attorney Law and will consist of nine (9) pages which thoroughly address all personal and financial matters. If you have any questions please feel free to email us at manager@missouridurablepowerofattorney.com. There is no charge for our answers to your questions.