January 2017
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THE VALLEY BUSINESS JOURNAL<br />
14 www.TheValleyBusinessJournal.com<br />
<strong>January</strong> <strong>2017</strong><br />
When Do I Need a Power of Attorney?<br />
by LEGAL Andrea Shoup<br />
by<br />
Andrea by Shoup<br />
Steve Fillingim<br />
Many people have heard the term<br />
‘power of attorney’ but have questions<br />
about when it is needed, and under<br />
what circumstances. A power of attorney<br />
(POA) grants a family member or<br />
other trusted individual the ability to<br />
make financial or healthcare decisions<br />
for you as your ‘agent’. This responsibility<br />
can be as broad or narrow as<br />
you wish to make it, and the POA will<br />
contain all of the specifics.<br />
Often, a POA can be in place immediately<br />
or be triggered when you<br />
become incapacitated through illness<br />
or injury, but it could also be used if<br />
you are traveling out of the country<br />
and need to have your affairs handled<br />
if you are unavailable.<br />
While incapacity may seem like a<br />
remote possibility for healthy adults,<br />
there is always the risk that you are unable<br />
to make decisions, even for a short<br />
time. The POA is a wise planning tool<br />
for those who want to decide who will<br />
step in to make financial and health care<br />
decisions, especially for significant<br />
financial or business interests, young<br />
children or other responsibilities.<br />
What are the Different Types of<br />
POAs?<br />
There are different types of POAs<br />
that can be used depending on your<br />
circumstances and how long it could<br />
be in effect, and your estate planning<br />
attorney can tell you which might be<br />
most suitable.<br />
General POA - General POAs can<br />
cover the full range of personal or legal<br />
responsibilities, and can include buying<br />
and selling property, filing tax returns or<br />
handling banking transactions.<br />
Limited POA - A limited POA is<br />
just that, restricted to a specific area or<br />
decision, such as a single financial transaction<br />
or to manage business interests<br />
for a short period of time.<br />
Healthcare POA - This may be<br />
most well-known POA. The POA<br />
gives the agent the duty to make medical<br />
decisions on your behalf if you are<br />
unable or unconscious, according to the<br />
specific medical care directives of your<br />
living will.<br />
Durable POA - Durable POAs<br />
are still in effect if you are incapacitated.<br />
The ‘durable’ aspect of this POA<br />
means that if you are unable to act on<br />
your own behalf, your agent can make<br />
decisions regarding your medical care<br />
or other personal and financial matters,<br />
depending on how you drafted the POA.<br />
If you have questions about how a POA<br />
can be used in your estate and life planning,<br />
please contact Attorney, Andrea<br />
Shoup at 951-445-4114.<br />
Temecula Passes Measure S<br />
On December 6th, the Riverside<br />
County Registrar of Voters certified the<br />
passage of Measure S, the City of Temecula’s<br />
9-1-1 Emergency Response, Public<br />
Safety, and Vital Services Measure.<br />
“Residents gave us our direction.<br />
It was an important decision for the<br />
community to make. We look forward<br />
to continuing to work with the community<br />
to maintain essential services and<br />
fiscal stability, despite ongoing State<br />
takeaways,” said Mayor Mike Naggar.<br />
“Measure S helps ensure Temecula remains<br />
a desirable place to live, work and<br />
do business,” continued Naggar.<br />
Measure S establishes a one-cent<br />
sales tax to maintain essential city services<br />
including police and fire protection,<br />
school safety patrols, traffic mitigation,<br />
and youth, senior and disabled services,<br />
amidst $31 million in State takeaways<br />
over the last 5 years.<br />
Measure S includes strict accountability<br />
provisions, including annual independent<br />
financial audits, public review of<br />
expenditures, and ensures that all funds<br />
remain in Temecula and cannot be taken<br />
by Sacramento. These fiscal safeguards<br />
ensure local funds continue to be used<br />
efficiently and effectively for local needs.<br />
For more information about Measure<br />
S, please visit www.cityoftemecula.org/<br />
MeasureS.htm<br />
www.cityoftemecula.org/MeasureS.htm<br />
“<br />
“Residents gave us our direction.<br />
It was an important decision<br />
for the community to make.<br />
We look forward to continuing<br />
to work with the community to<br />
maintain essential services and<br />
fiscal stability, despite ongoing<br />
State takeaways,” said Mayor<br />
Mike Naggar.<br />
“Measure S helps ensure Temecula<br />
remains a desirable place<br />
to live, work and do business,”<br />
continued Naggar.