Take control over who makes decisions on your behalf.
A power of attorney is a legal document that gives someone else the authority to make decisions on your behalf. The person who creates the power of attorney is called the principal, and the person given the authority is called the agent. Depending on your needs, a power of attorney can be broad or limited.
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There are many types of power of attorney. For example, a general power of attorney gives your agent wide authority to handle your financial, legal, or business affairs. These documents are often used for those who are unavailable or who want someone to easily manage their affairs.
In comparison, a limited or special power of attorney restricts the agent’s powers to specific tasks. For example, the agent may be granted the authority to sell property or to manage one bank account. Either way, having a power of attorney in place can help you manage your finances, healthcare, and personal matters according to your wishes if you cannot handle them yourself.
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Developing a power of attorney is a key part of the estate planning process and something we can help with at Perkins & Adley LLP. We offer comprehensive estate planning services to our clients in Rochester, Indiana, and we are here to ensure the validity and effectiveness of your power of attorney document.
We are ready to consult with you on your estate planning needs. To learn more about what a power of attorney does and how it can help you maintain your best interests, reach out to our law firm today.