Estate Planning - Powers of Attorney

Wills | Trusts | Living Wills | Health Care Surrogate | Powers of Attorney 

A Power of Attorney gives someone else the authority to legally act on your behalf. You can give a general Power of Attorney or a limited Power of Attorney.

Powers of Attorney are usually used by older people to give their spouse or children the ability to manage their affairs on their behalf while they are still alive but are no longer mentally able to keep track of everything or to make competent decisions on their own. With a Power of Attorney, the person granted the power can open or close bank accounts, sell or buy real estate, and otherwise act as your legal representative. They can enter legal contracts on your behalf and otherwise do anything for you that you would legally be able to do for yourself.

The Power of Attorney discussed above is a general power of attorney. There are also limited powers of attorney that give the person granted the power only limited authority to act on your behalf. For example, you can give someone else a Power of Attorney to sell your car for you, or one that is limited to certain things or for certain times.

Powers of attorney are an item of convenience, especially for older persons. Rather than transfer the names on bank accounts, stocks and bonds, and real estate to someone else on their behalf, executing a power of attorney gives the person who receives the power a simple means to make decisions for you by simply showing a copy of the power of attorney to the necessary people. One document often can take the place of numerous forms, deeds, and other legal transfers. Also, powers of attorney can be revoked at any time.

Please contact us for more information about Powers of Attorney.