When people plan for estate administration, they may decide to appoint a power of attorney. With this decision, they should make sure that they trust the individual they appoint. Although a power of attorney does not have unlimited power, their decisions can affect you directly. A power of attorney is someone who steps in to make decisions for you when you are unable to do so. If your health fails and you are not in a clear state of mind or are unconscious, your power of attorney can make decisions based on wishes you have shared with them. This can include a variety of aspects. However, you have control over how much power they have. You may only grant them with power over decisions regarding your health during emergencies. Other times, you may give them access to control your finances. Each power of attorney is dependent on how much power that individual gives them. Due to this, the amount of power they have can vary depending on each case.
What can they control?
When naming a power of attorney, it can be a difficult task to give this person control. You should always make sure to give this role to someone that you trust. Most people decide to use a family member or close friend. It is important that you have written down your wishes regarding issues so that they know how to proceed with decision-making. A general power of attorney is someone that is given the authority to conduct financial actions on behalf of the other individual. These tasks can include filing taxes, executing contracts or borrowing money. If you are given the role of a limited power of attorney, you are an agent that can take certain actions that are at the discretion of the individual who gave you the authority. They have the ability to make your power as limited or as broad as they would like. A limited power of attorney can vary depending on each situation. The role of a power of attorney is one that has the responsibilities of another individual’s plan. This can prove to be stressful. You should ensure that you are acting according to their plan and how much power was given to you. During these times, it is important to put the needs of the individual you are deciding for first.
The Lauterbach Law Firm is proud to serve clients throughout Rockland County who are faced with legal matters related to estate planning, real estate, foreclosure defense, landlord-tenant law, business law, and criminal defense. If you require the services of an experienced team of attorneys, contact The Lauterbach Law Firm today to schedule a consultation.