Power of attorney (POA), is a legal document through which you appoint either an individual or an organization to manage your affairs should you become unable to do so. The individual who appoints the POA is called a principal. This person is able to decide in advance who they trust and who they want to make decisions on their behalf if they become incapacitated in the future.
Navigating this process can be intimidating, especially if you’re unfamiliar with the legalese and POA document requirements. Fortunately, at The Crosby Law Firm, our estate planning lawyers in Rockford, IL are here to help! We have extensive experience managing wills, living trusts, estates, and a number of other life-planning legal instruments.
If you’re still unsure of what a POA lawyer is, continue reading. We’ll delve into some specifics surrounding what the role of a power of attorney includes, and what you need to know about the different types of POAs.
What is A Medical Power of Attorney?
What is a POA for healthcare purposes? A medical power of attorney, also referred to as a healthcare power of attorney, has the ability to make decisions regarding the care that the principal receives. This is often necessary if the principal becomes unable to make decisions for themselves. This may occur if the principal suffers a brain injury, falls into a coma, or is diagnosed with dementia.
When you’re trying to decide who should be your power of attorney for the purpose of making medical decisions, it can be hard to find someone you trust. You should choose someone who is capable of asking questions and isn’t intimidated by medical professionals.
Your medical power of attorney should also be able to push aside your personal feelings in order to make the decisions that best respect your wishes.
What is A Financial Power of Attorney?
What is a financial POA? A financial power of attorney is an individual who manages your financial decisions if and when you are no longer able to do so. This POA can become effective immediately or after a disabling event occurs; it depends on how it is worded in your legal documents.
How Long Does A Power of Attorney Last?
A power of attorney typically lasts until a principal’s death unless the POA is revoked before this occurs. A POA may also be in effect only until a principal is no longer in need of medical care.
Additionally, if the POA is not a durable power of attorney, then it will expire should the principal become incapacitated. If the POA agent is married to the principal, then the POA may be terminated upon legal divorce or separation.
Finally, if a POA agent is only designated to perform a specific task, the POA will expire upon completion of that task or transaction.
Legal Requirements for Powers of Attorney
There are only two legal requirements for potential powers of attorney.
- They must be of a sound mind
- They must be at least 18 years of age
Trust is an extremely important factor when deciding who should be your power of attorney. This is because the purpose of a power of attorney is to make decisions on your behalf that will optimally benefit you physically, financially, and emotionally.
Should You Give Your Lawyer Power of Attorney?
You should only give your lawyer power of attorney if you trust they have your best interests at heart, and they’re qualified to handle the responsibility. While family members and trusted friends can allow emotion to get in the way of making decisions, having your lawyer act as your POA will eliminate this issue.
At The Crosby Law Firm, our lawyers are qualified and experienced in handling POA responsibilities. We will make decisions based on your wishes and best interests. Our goal is always to ensure your safety, comfort, and financial and emotional well-being.
How The Crosby Law Firm Can Help
If you need a lawyer for power of attorney, our law firm is here to help. If you have yet to choose a POA for yourself, we can guide you through the process. If you’re looking for a power of attorney for hire in Rockford, IL, The Crosby Law Firm is qualified and able to protect your best interests.
We offer free initial consultations, flat fees, no hourly charges, and payment plan options for our clients. Contact us today to talk with our experienced legal team.
