Canton Power of Attorney Lawyer
A power of attorney (POA) can be a valuable legal tool for you, your family, and/or your elderly loved one. Used to make important decisions on behalf of an incapacitated person, a power of attorney comes in handy during hospitalizations, dementia, or other forms of incapacitation. Canton power of attorney lawyer Brian S. Karpe can help explain, in detail, how a power of attorney works, and what it accomplishes.
What is a Power of Attorney?
A power of attorney is a legal document that enables a named person (the ‘attorney in fact’ or the agent) to make certain decisions on behalf of another individual (the ‘principle’) if they become incapacitated. These decisions include business, legal, financial, and medical, and the type of power of attorney created determines what decisions can be made by the attorney in fact. As we age, it becomes increasingly important to consider what might happen to the family home, family, business, your retirement accounts, and the healthcare you wish to receive should you become incapacitated due to injury, illness, or Alzheimer’s/dementia.
What, Specifically, Does a Power of Attorney Achieve?
A power of attorney allows the attorney in fact (usually a close family member or spouse), to pay bills, make business decisions, buy and sell stock, sell property, or make medical decisions for the principal in the event they cannot make decisions for themselves. For very elderly individuals, or those suffering from dementia, it is important to have a power of attorney in place before they are deemed mentally incompetent, at which point a court proceeding becomes necessary in order to name a guardian.
Who Should be My Attorney in Fact?
Typically, spouses, adult children, or other trusted family members are chosen to be the attorney in fact. You should consider the individual’s time constraints, their critical thinking and decision making, and (of course) their willingness to help you in your time of need.
Types of Powers of Attorney
Below is an incomplete list of types of powers of attorney:
- Durable Power of Attorney—The agent is free to make all business, financial, and legal decisions for you, without a time limit.
- Non-Durable Power of Attorney—In place only for a specified period of time, and the agent is bound to carry out only certain tasks.
- Limited Power of Attorney—The agent is only capable of carrying out certain tasks, though there is no time limit that the POA is in place.
- Medical Power of Attorney—Designates a healthcare proxy to make decisions on the patient’s behalf if they cannot do so themselves.
- Financial Power of Attorney—The agent has power to make financial decisions for you, including real estate and investments.
Call a Canton Power of Attorney Lawyer Today
Here at the Law Office Brian S. Karpe, our Canton power of attorney lawyer approaches estate planning and elder law from all angles and strive to create an individual plan that works for you. A power of attorney is just one aspect of an estate plan or elder law care that we can help you create. Call us today at 860-217-1458 today for a free consultation.