POWER OF ATTORNEY - MEDICAL, FINANCIAL
Though people are generally aware of the importance of wills in estate planning after an individual's death, power of attorneys providing for third parties to handle an individual's affairs while the individual is incapacitated are more important to the individual's well-being during their life. A expensive and time consuming court action may be required to appoint a conservator or guardian to make decisions for the individual if a power of attorney designating an agent is not available.
A power of attorney is a written document which appoints someone else as an agent to act on your behalf. The power of attorney allows the designated agent to do anything you can do including making financial and medical decisions.
Powers of attorney can differ depending on the powers to be granted to the designated agent and when the powers are to begin. A conventional power of attorney begins when it is signed and continues until the individual become mentally incapacitated. The powers granted can be limited to specific acts or be as broad as anything the individual can do.
A durable power of attorney begins when you sign it, but it stays in effect for your lifetime unless you cancel it. You must put specific words in the document stating that you want your agent's power to stay in effect even if you become incapacitated. If you want this feature, it's very important that you have these words in your document.
A springing power of attorney begins only when a specific event happens, such as when you become incapacitated. A springing power of attorney must be carefully drafted to avoid any difficulty in determining exactly when the "springing" event has happened.
All individuals are unique and have their own specific issues and concerns regarding the power of attorneys required for their situation. The Law Offices of Ravi K. Nigam reviews each client's situation thoroughly and provides powers of attorneys customized for the client. Contact us to discuss your situation and what option will best fit your situation. We take great pride and care in providing highly quality affordable legal services. Our attorneys provide a free legal consultation to discuss your needs and what options are available to you.