In the event that a person is no longer able to manage his/her property or health care decisions, they have the option to hand over power of attorney to a loved one. Powers of attorney are an important estate planning tool to help ensure that your affairs are properly managed if you are no longer able to do so. In many instances, a power of attorney will be an integral part of your estate planning plan. The person you give this power to should be someone you can fully trust with all matters concerning your health and/or finances. For this reason, these documents should only be set up after careful consideration and with guidance from a skilled legal professional.
At the Law Office of Rodney Davis we help clients create a comprehensive estate, trust and asset protection plan that meets your needs and accounts for all eventualities. We take the time to thoroughly analyze your circumstances so we can employ the appropriate tools to effectively carry out your final wishes.
There are various types of powers of attorney including:
- General Power of Attorney. This allows someone to make any kind of business decision on your behalf.
- Medical Power of Attorney. This gives someone the right to make decisions on your health care. Durable medical powers of attorney lets your agent make medical decisions for you when you can’t make these decisions.
- Financial Power of Attorney. This allows some to handle your money and property. To sell your land, the power of attorney must specifically give that right.
- Limited Power of Attorney. This allows a person to take specific actions for you.
- Durable Power of Attorney. This continues even after you become incapacitated. Without the word “durable,” a power ends when you become incapacitated.
- Springing Power of Attorney. This takes effect when something happens. Usually, it begins when you become incapacitated.
At the Law Office of Rodney Davis we can help you decide if a power of attorney is the right choice for you.
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