One of the most important factors to consider during estate planning is power of attorney. Obtaining power of attorney can give an individual peace of mind that their matters will be handled if they are unable to do so, whether it is because they have become incapacitated or are healthy but are away on a trip. When an individual is thinking about obtaining power of attorney, they have several options to consider.
A general power of attorney exists to allow the agent to conduct all of the same activities that the individual would do themselves. The agent would be allowed to file taxes, sign contracts, take loans, and do anything else the individual themselves would do. A limited power of attorney, which is sometimes known as a special power of attorney, exists for only specific situations. The individual will be able to grant the agent only specific powers of their choosing. A durable power of attorney exists for individuals to appoint an agent for care at the end of their life. Finally, a springing power of attorney can allow an individual to become an agent only after a specific event happens such as a medical emergency.
If you need assistance with a power of attorney, contact our firm today.
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.