No one wants life’s less enjoyable surprises to catch them off guard.
A power of attorney is an important piece of your plan for the future.
With the help of an experienced Georgia estate planning attorney like our team at Marietta Estate Planning, you can protect your loved ones – from your parents to your children – with a power of attorney in case of unexpected financial and medical emergencies.
No one wants life’s less enjoyable surprises to catch them off guard.
A power of attorney is an important piece of your plan for the future.
With the help of an experienced Georgia estate planning attorney like our team at Marietta Estate Planning, you can protect your loved ones – from your parents to your children – with a power of attorney in case of unexpected financial and medical emergencies.
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~ James P.
A Power of Attorney (POA) is a legal document that gives an individual the power to make decisions for someone else.
The document specifies what authority the agent has to make decisions about the principal’s property, finances, investments or medical care.
In addition, a power of attorney provides the peace of mind that your loved ones will be safe in any unexpected emergencies. Your college freshman can make you their agent before they fly the nest to tackle campus on their own. Your parents can make you their agent in case they slip in the shower. You can protect yourself and do the same.
When it comes to your estate planning, you can set a plan in place to protect the future of you and your family with a power of attorney. If illness, injury or aging affect your ability to care for yourself, you can appoint someone you trust to make medical or financial decisions on your behalf.
A POA differs from a conservatorship, which requires much more time and money. A conservatorship involves the time and expense of court involvement. It also requires a court mandate to rescind.
You set the terms when it comes to your power of attorney. The following types of powers of attorney vary when it comes to their jurisdiction, but they all offer the same relief and reassurance.
A general power of attorney allows the agent, sometimes called the attorney-in-fact, to handle any of a principal’s affairs. This includes health decisions, bank accounts, checks, assets, property and more.
A limited power of attorney limits the abilities of the agent. The principal can choose which of their matters the agent can handle; maybe the agent can only handle certain bank accounts, or can only manage their property.
A limited power of attorney can also limit the conditions under which the agent can act on the principal’s behalf. For example, it might state the agent can only make medical decisions on the principal’s behalf if the principal falls ill.
A durable power of attorney (DPOA) remains in place either until the death of the principal, or until the document is revoked. In particular, a DPOA does not end in the case where the principal becomes incapacitated.
Alternatively, a non-durable power of attorney ends when the principal is incapacitated.
A durable power of attorney can state which of a principal’s affairs the agent can manage. There are two types of durable powers of attorney.
It is important that you start the steps now to save time, money and complications when it comes to you and your family’s future.
To set up a power of attorney, you should find a Georgia estate planning lawyer to facilitate the accurate and easy creation of your power of attorney.
It is important that you start the steps now to save time, money and complications when it comes to you and your family’s future.
To set up a power of attorney, you should find a Georgia estate planning lawyer to facilitate the accurate and easy creation of your power of attorney.
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