The power of attorney is an important estate planning document which allows for another person to make certain decisions for another. There are several types of these powers, each of which will be mentioned in what follows. If you need to obtain power of attorney for a loved one it is important to work with a Bryan TX Estate Planning Lawyer who can help you choose the right options for your needs.
Types of Powers of Attorney
A power of attorney can last indefinitely or be limited in scope. Your estate planning attorney will discuss your situation and together you will decide which of the three is best for you:
- General Power of Attorney: Allows the holder the power to make decisions for another. Depending upon the way it is written, the POA can grant powers for medical, financial, or business decisions.
- Durable Power of Attorney: Similar to a general power of attorney, except that it goes into effect only when the loved one becomes incapacitated, and can no longer make decisions for himself.
- Special Power of Attorney: As the name suggests, a special POA allows decision making only in one designated area, such as the person’s banking affairs.
Obtaining Power of Attorney
It is a good idea to work with a Bryan TX Estate Planning Lawyer when trying to obtain power of attorney. You need to begin by discussing the need with the loved one in question. Once you have their consent, you then need to draw up the proper documents. Make sure to get them notarized. They will not be valid otherwise.
It is worth noting that in order to obtain power of attorney from another, that person must be of sound mind. If this is not the case, you may need to obtain a conservatorship instead.