Power of Attorney
A power of attorney is a legal document that gives someone the authority to act on your behalf in circumstances that you outline within the document. We can represent you if you seek a power of attorney to decide on issues like taxes, real estate, financial, or retirement plans. You can outline your limits or financial decisions you would like, and as long as the person you appoint is trustworthy and competent, it is safe.
Why do I need a power of attorney?
• If you want to appoint an individual to make decisions or care for your children
• It allows your appointed individual to make health care decisions.
• It allows your appointed individual to handle your financial matters.
Different types of Powers of Attorney include:
Special Power of Attorney:
This allows you to give only specific power to an appointed person. It only entails one specific matter and can be terminated once it is over.
Durable Power of Attorney:
Allows an individual you appoint to make decisions for you as they see fit. A power of attorney remains in effect permanently unless a termination date is listed.
General Power of Attorney:
Allows an authorized person to act on your behalf over a specific or all areas of your life. This type of power should only be given to someone you have confidence in and trust to carry out your financial and personal affairs.
Medical Power of Attorney:
This allows an appointed individual to make healthcare-related decisions if you cannot make decisions for yourself. This document will list your wishes for various medical scenarios. This document must be completed correctly, so there are no issues if a medical emergency happens.
What if I Don’t Have a Power of Attorney?
If you become incapacitated and a power of attorney is not in place, your family must see guardianship to manage your matters. Seeking guardianship can be costly and can cause conflicts when issues remain unresolved. This document is crucial to assure your estate and care for yourself are planned if you become incapacitated. Contact the Law Office of Racheal L. Adkins today to get started on a Power of Attorney.
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