Power of Attorney
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A Power of Attorney (POA) is a legal document that gives someone else the authority to act on your behalf in financial or legal matters. This can include making decisions about your finances, property, or medical treatment.
It is important because it allows you to plan for situations where you may not be able to make decisions for yourself, such as in the event of illness, injury or incapacity. A POA is a useful tool for individuals to plan for the future and ensure their wishes are respected, even if they are unable to act on their own behalf. It is also important to choose the right person to act as your attorney, someone who you trust to make decisions in your best interest.
Three types of powers of attorney are commonly used, each for a different purpose:
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General Powers of Attorney
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Broad powers, ends if donor of power becomes mentally incapable
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Specific Powers of Attorney
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Limits the attorney’s power to a specific task, property, etc.
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Enduring Powers of Attorney
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Broad powers like the general POA, but does not end if donor becomes mentally incapable
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Contact us today for a consultation to see if a POA is right for you.