Kentucky Durable Power of Attorney (Financial)

Last Updated: 6/19/2015

Document Description

The future sometimes seems far away, and it’s often hard to imagine an illness or accident that might render us incapable of handling our own affairs. In the event of such an occurrence, it’s important to have appointed someone to make choices regarding your money. While you can’t predict what the future may bring, you can take steps today to protect your assets tomorrow. Creating this power of attorney can offer that protection.

A durable financial power of attorney allows the person you choose - known in Kentucky as the attorney-in-fact -to make decisions on your behalf and is valid until you die, or you revoke it. You should have one even if you’re married, because no one else has the authority over your accounts unless you grant it. In Kentucky, however, if you divorce and have appointed your spouse as your attorney-in-fact, the power of attorney won’t end automatically just because the marriage has. You may wish to appoint a new attorney-in-fact, unless you and your ex-spouse are on especially friendly terms.

The Kentucky Financial Durable Power of Attorney allows you to specify in which financial areas you’ll grant your attorney-in-fact authority, including retirement plans, taxes, and insurance. And, just like all the other estate planning documents you create on EZEstatePlanner, your Kentucky Financial Power of Attorney will be safely stored in your ezEstatePlanner Vault. You’ll have complete access to the forms you need, when you need them.

Legal Aid Network of Kentucky is a team of legal service providers offering legal information and services to several groups, including those ages 60 and older.

Visit http://kyjustice.org for more information. Person over the age of 60, may also consult, The Legal HelpLine for Older Kentuckians at http://www.ajfky.org or 1-800-200-3633.

Note: Healthcare decisions are not included in the Kentucky Financial Durable Power of Attorney. Please see our Kentucky Medical Power of Attorney if you would like to appoint someone to make those types of decisions for.




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