Another important part of a good estate plan is the power of attorney. In general, a power of attorney is a written document where an individual appoints another individual to act as an agent on their behalf. The agent is granted authority to perform certain acts or functions on behalf of the individual. There are many types of powers of attorney. To ensure you have the proper power of attorney and have only granted the authority you intended, a lawyer knowledgeable in the kinds of powers of attorney should write it for you.
No matter your age, everyone should have a Durable Power of Attorney for Health Care Purposes, a document that grants another decision making abilities over health-related issues, in the event of your incapacitation.
The Power of Attorney is a signed and notarized document by which one person, the principal, gives another person, an agent, authority to act on the principal's behalf. The authority may be general, giving the agent broad power to make decisions, or limited, giving the agent the power to do one or more specific things. Most general powers of attorney prepared today are durable, which means the authority continues even if the principal becomes incapacitated and cannot act for himself or herself. A principal can make the power of attorney effective immediately or at some later date or event, such as when the principal becomes incapacitated. Under most circumstances, a properly executed general durable power of attorney avoids the need for a court-appointed guardian or conservator.
If you would like to discuss your particular needs with Attorney Christopher E. Friel, please contact us today by calling 401-737-4200 extension 23.