Holden Law Office provides professional services with a personal touch to individuals and families that are facing issues associated with long-term care and asset management.
Powers of attorney are an important part of estate planning and can ensure that your wishes are carried out even if you can’t communicate them yourself.
A power of attorney is a legal document in which you appoint someone to make medical or financial decisions for you if you cannot. You can appoint anyone you trust to be your agent, as long as they are over the age of 18 and of sound mind.
Powers of attorney are important because they allow you to plan for unexpected events like an accident or sudden illness. No one knows what the future holds, and it is important to be prepared for anything. If you cannot communicate your wishes, your agent can step in and decide for you.
An individual must have the capacity to execute a Durable Power of Attorney. Many Durable Power of Attorneys become effective upon their execution. However, an individual can delay the effectiveness of a Durable Power of Attorney to a later date or doctor declaration of incompetence; that type of Durable Power of Attorney is referred to as a “springing” or “contingent” Durable Power of Attorney.
Powers of Attorney can be for a limited time or a specific purpose. If you want to limit how long a Power of Attorney lasts, you should say that in the document. This is called a Temporary Power of Attorney.
You should also consider appointing a “Limited Power of Attorney,” when your agent needs to make decisions on certain issues only.
An experienced estate planning lawyer can help you determine which Powers of Attorney are right for you and can assist with drafting the documents.
The experienced legal team at the Holden Law Office can help you determine whether powers of attorney are right for you and create one for you. Call us today at (615) 453-7553 for a consultation.