A power of attorney grants an individual (agent) the power to make a decision on behalf of another individual (principal). This document specifies which aspect of the principal’s life the agent has power over. These can include properties, healthcare, finances, or various other things. Power of attorney documents is usually used in scenarios where the principal can no longer make decisions on their own, like when they become incapacitated following an accident or due to illness. The power of attorney is often given to a family member or trusted confidant because the principal trusts that they will have their best interest in mind. Power of attorney is an essential document when it comes to estate planning because it covers any decision that might not be included when the will is initially drawn up. A power of attorney lawyer creates these documents all the time and will craft each power of attorney according to the preferences of the principal.
Who Needs a Power of Attorney in Clinton?
In a perfect world, every person over 18 would have an estate plan in place that includes a power of attorney. It’s dark to think about death, but the truth is accidents and illnesses are unpredictable. Often, when a person becomes incapable of making their own decision, it’s already too late. A well-written power of attorney, created by a knowledgeable power of attorney lawyer, will give you peace of mind knowing that someone you trust will be ready and prepared to make the important choices for you.
Are Powers of Attorney Revocable?
The principal can change a power of attorney document anytime, as long as they have the mental capacity to do so. If that is in question, a doctor may be called in to prove the principal can still make these big decisions. If the principal chooses to revoke the power of attorney, they’ll first need to inform the agent in writing that the document is being revoked. Once the agent has been notified, the principal will need to notify the bank, hospital, or any individual or entity that is connected with the power of attorney. The best way to make changes to or revoke a power of attorney is to work with a lawyer to draft a new document to replace the original.
Do I Need to Hire an Estate Planning Attorney?
A good estate planning attorney will be versed in every area of estate planning, including power of attorney. Working with an estate planning lawyer will ensure you’re able to tailor your plans according to your preferences. Whether you are considering drafting powers of attorney, establishing living trusts and wills, or other estate planning documents, an estate planning attorney can ensure that all your documents are carefully worded and that all the processes are done correctly. If you’re looking to appoint a power of attorney, call Rundlett Law Firm, PLLC today at 601-353-8504 and let us help with your estate planning so you and your loved ones can focus on what’s really important.