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PRACTICE AREASPower of Attorney – Slidell & Metairie
A Power of Attorney is an important estate planning document that allows you to designate someone you trust to make financial, legal, or other decisions on your behalf when you are unable or unavailable to do so. The authority granted can be broad or limited depending on your needs and the type of Power of Attorney. At Frank D’Amico, Jr., we help individuals understand their options and prepare Power of Attorney documents that clearly reflect their wishes. Proper planning can provide peace of mind and help ensure that important financial and personal matters are handled by someone you trust.
Common Power of Attorney Issues
- Durable Power of Attorney– Allows a designated person to continue handling certain matters if you become incapacitated, depending on the terms of the document.
- Financial Power of Attorney– Authorizes someone to manage financial matters such as bank accounts, investments, property, and bills.
- Healthcare Power of Attorney– Allows you to designate someone to make healthcare decisions on your behalf when you are unable to make them yourself, subject to applicable law.
- Limited Power of Attorney– Grants authority for a specific transaction, task, or period of time.
- General Power of Attorney– Gives an agent broader authority to handle specified financial or legal matters on your behalf.
- Choosing an Agent– Selecting a trustworthy person who can responsibly act in your best interests.
- Revoking a Power of Attorney– Cancelling or replacing an existing Power of Attorney when circumstances or your wishes change.
- Power of Attorney for Real Estate– Authorizing an agent to handle certain real estate transactions or property-related matters.
- Business Power of Attorney– Allowing a trusted person to handle designated business or financial matters when necessary.
- Power of Attorney During Incapacity– Establishing who can manage important affairs if illness, injury, or another circumstance prevents you from making decisions yourself.
Frequently Asked Questions
What is a Power of Attorney?
A Power of Attorney is a legal document that allows you to appoint another person, known as an agent or attorney-in-fact, to act on your behalf in matters specified in the document.
Why should I have a Power of Attorney?
A Power of Attorney can help ensure that someone you trust is authorized to handle important financial, legal, or personal matters if you are unavailable or unable to make decisions yourself.
What is a Durable Power of Attorney?
A Durable Power of Attorney is generally designed to remain effective even if you become incapacitated, depending on the document and applicable state law. It can be an important part of an estate plan.
Can I choose anyone to be my agent?
You should choose someone you trust and who is capable of responsibly handling the authority you are granting. This may be a spouse, family member, friend, professional advisor, or another trusted individual.
Can I limit the authority given to my agent?
Yes. Depending on your needs and applicable law, a Power of Attorney can be drafted to give an agent authority over specific matters rather than granting broad powers.
Can I revoke my Power of Attorney?
Generally, you can revoke a Power of Attorney while you have the legal capacity to do so. Proper steps should be taken to notify the agent and relevant institutions, and a new document may be needed if you are appointing someone else.
What happens if I become incapacitated without a Power of Attorney?
Without an appropriate Power of Attorney or other planning documents, your family may have to seek court involvement to obtain authority to manage certain financial or personal matters on your behalf.
Does a Power of Attorney remain valid after death?
Generally, a Power of Attorney ends when the person who created it dies. At that point, the authority to administer the person’s estate typically comes from a will, court appointment, trust, or applicable law.
Should I update my Power of Attorney?
It may be appropriate to review your Power of Attorney after major life events, such as marriage, divorce, the death of your designated agent, changes in your finances, or changes in your wishes or applicable law.
Do I need an attorney to prepare a Power of Attorney?
Because a Power of Attorney can give another person significant authority over your affairs, it is important that the document accurately reflects your wishes and complies with applicable legal requirements. Frank D’Amico, Jr. can review your circumstances, explain your options, and help prepare a Power of Attorney designed to protect your interests.