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A power of attorney is an important legal document that should be included in any thorough estate plan and can be of critical importance even without an estate plan, as it is of great value during many of life’s complications. The purpose of a power of attorney is to enable another trusted person to handle some or all of your affairs for you. There are many kinds of powers of attorney, ranging from a general durable power of attorney which enables the recipient to act in your name, in virtually all ways you could do yourself, to a very limited power of attorney, which enables the recipient to do one or more specific acts in your name. For example, you could provide a limited power of attorney to a close friend or relative to attend a real estate closing for you and sign the necessary documents, or to do your banking.
An extremely important but often misunderstood fact is that, while a will specifies what will happen to your estate, your property, and your debts should you pass away, a power of attorney grants an individual you trust the power to manage your affairs should you become too ill to manage your life during your lifetime, if you become severely ill, disabled, or suffer from Alzheimer’s or dementia, while you are alive.
If you have minor children, or are in the process of planning your estate, or have been diagnosed with a progressive or terminal illness, or have questions about whether you need a power of attorney, contact Express Law today, a power of attorney lawyer in Pompano Beach, Florida.
A power of attorney can do the following:
· Give someone you trust the ability to do (almost) anything in your name you could do yourself
· Give someone you trust the power to pay your bills and manage your financial affairs on your behalf, either as a convenience, or should you become too sick to do so
· Grant a person you trust the ability to sign documents on your behalf, either as a convenience or if you are unable to do so. For example, if you need to purchase property in another state, will not be in town when business transactions need to go through, or want to hire a person to sell property or vehicles for you without your presence, having a properly delineated power of attorney in place would be a critical tool
The best time to consider drafting a power of attorney is sooner, rather than later. The worst case scenario is to need to have one but to be unable to do so due to physical or mental limitations. If you think you might benefit from a power of attorney, contact Express Law today in Pompano Beach, Florida. Our firm can help you with a range of legal needs.
Same-Day Power of Attorney Services in
Pompano Beach, Florida
Need same-day power of attorney services in Pompano Beach, Florida? Express Law can help. Whether you are closing on a home or a property and need to appoint someone to sign legal documents because you won’t be present, or need to appoint someone to temporarily manage your financial affairs, Express Law offers same-day power of attorney services in Pompano Beach, Florida. When closing on a home or selling property, having the proper legal documents in place to complete the transaction is essential. When you need these documents right away, you need a law firm that can deliver quickly. Express Law legal services in Pompano Beach, Florida can often prepare your power of attorney the same day.
What Kind of Power of Attorney Do I Need?
There are many types of powers of attorney you can have in place, depending on your needs. For example, one type of power of attorney is used only to govern a very specific transaction. If, for instance, you are buying property out of state and prefer to have someone sign documents on your behalf, a power of attorney can grant a trusted individual this ability only for a specific purpose and a defined, limited period of time. These types of powers of attorney are very specific in scope and only grant the trusted individual the ability to perform specific tasks on your behalf.
However, there are other types of powers of attorney that are used with or without estate planning instruments like wills and trusts. A durable power of attorney can grant a trusted individual the ability to do almost anything for you that you could do yourself, either as a convenience, if you are out of town at a critical point, to manage your estate should you become disabled or too ill to do so yourself either temporarily or permanently. You may also want a health care proxy, which is a special type of medical power of attorney, which will allow a trusted individual the ability to make medical decisions on your behalf should you be unable to make them due to illness or disability. Sometimes the person in charge of your finances might be the same person in charge of making medical decisions, but if your financial situation is complex, you might hire a financial professional to manage your financial affairs, while granting a family member or trusted loved one the ability to make medical decisions on your behalf. Express Law power of attorney lawyers in Pompano Beach, Florida can draft these documents for you.
A financial power of attorney can grant a trusted individual the ability to:
· Pay your bills and taxes
· Pay for your housing and other debts
· Make decisions regarding your investments and other financial instruments
· Manage your property or properties and collect rent if you have renters
· Make other financial decisions and handle any other financial needs that may arise
It is always best to discuss your wishes with the person you plan to appoint who will make medical decisions on your behalf.
When drafting a health care proxy, it is also a good idea to think about your wishes:
· What kind of medical treatment would you want?
· If warranted, do you want hospice care?
· Do you have a preference for hospitals, nursing services, and doctors you want to provide your care should you become ill or incapacitated?
· Are there specific types of medical treatments you want?
If you want to create specific rules and scenarios in the event of major illness, this is done in Florida with a document called a “Living Will”. For example, would you want to be resuscitated should your heart stop? Do you want to continue a course of treatment that will prolong your life, or would you prefer a course of treatment that will keep you comfortable?
When drafting these documents, it is important to ensure that the person(s) you are appointing to be your legal agent(s) is aware of your plan. Doctors and hospitals should also have copies of the health care documents on file. If you plan to use a financial advisor to manage your financial affairs, he or she will need a copy of any power of attorney which provides authorization to him or her.
Express Law is a power of attorney lawyer in Pompano Beach, Florida who can draft a full suite of legal documents for your legal needs, including powers of attorney and estate planning. Contact our firm today to learn more. We can often offer same-day power of attorney services.
Express Law Legal Services in
Pompano Beach, Florida
Having a durable power of attorney is a critical life tool that is important for almost everyone, at any age.
Additionally, when doing any estate planning, the process can sometimes feel overwhelming. Having a will in place is just the first step. Having a durable power of attorney in place can protect your wishes and interests in the event you are alive but physically or mentally unable to handle your affairs, or should you become too sick to make decisions for yourself. A strong estate plan can consider both your needs before you pass away and your family’s needs after you pass. Express Law is a power of attorney lawyer in Pompano Beach, Florida who can prepare same-day powers of attorney and also all of your estate planning needs.