What is Power of Attorney?

What is Power of Attorney?

What is Power of Attorney?

Many of our clients have heard of a power of attorney, but have no idea what it actually requires.

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It is important to know that there are different types of power of attorney, however, they are all legal documents that allow you to select an agent or attorney on your behalf.

A power of attorney allows someone else to make financial, legal, and medical decisions for you, depending on the type.

There are various types of power of attorney. Some of them:

  1. Durable Power of Attorney – A durable power of attorney is an effective power of attorney, even in times of incapacity. This allows the designated person to have the power to make decisions on your behalf, both financially and legally.
  2. Limited Power of Attorney – A limited power of attorney limits powers to certain designated powers, such as selling property.
  3. Medical Power of Attorney – This allows you to name a person to make medical decisions for you. This is useful if you are disabled and need medical care.

There are other ways to draw up a power of attorney as well.

Many people choose their spouse or a close relative to act as their proxy.

If you no longer want that person to act on your behalf, you can revoke your power of attorney and choose a new person to include in the new document.

The reason we recommend having a power of attorney is so you can control who makes decisions on your behalf, if you cannot make those decisions.

If you need help with your power of attorney, we can help.

Contact us today to help you get the right paperwork or to update your current property package. We will plan so you don’t have to worry about your future.

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