Power of Attorney

A Power of Attorney is used to appoint another person to manage your affairs when you are unable to manage them yourself.  A power of attorney can be very limited or very broad in scope.  Two particular powers are general granted in a power of attorney.

The first is a grant of power to manage your financial affairs.  This power grants a person the ability to access most of your financial affairs.  Usually this power will grant someone the ability to access your bank accounts, manage your investments such as your retirement plans and real estate.  They may or may not be able to give other people gifts depending on how you draft the document.  These powers are sometimes necessary if you cannot do these things for yourself.  Granting someone else these powers can ensure that your bills are paid and that your assets are managed in the way that you specify when you are unable to act on your own.

The second power usually granted in a power of attorney is the power to make medical decisions on your behalf.  If an accident occurs, or you suffer a catastrophic illness, it may be necessary to have someone else make your decisions for you.  Appointing that person through a power of attorney ensures that your healthcare provider has no doubts who will be making those types of decisions for you.  You can discuss the types of medical treatments that you wish to receive in advance with this person and ensure that you receive the type of care you desire.

You can grant these powers in a single document, or you can use multiple documents.  There are several reasons why you might wish to use several documents.  You should discuss the options with your attorney before making a decision.  A power of attorney is a very powerful legal document, and should not be signed unless you fully understand all the powers granted in the document.  We recommend that you allow an attorney to draft your power of attorney or at least review it before you sign it.  We would be happy to assist you with this service.  Please contact us today.

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