Estate Planning Attorney For Powers of Attorney
Powers of Attorney have numerous uses; however, they can be abused if you are not careful in drafting the document and choosing your agent. The Law Office of Richard S. Weinstein, P.A. provides comprehensive legal services related to drafting, revising, and reviewing powers of attorney. We can also represent you if you have a dispute regarding a power of attorney.
What is a Power of Attorney?
A power of attorney is a legal document you can use to delegate specific powers to one or more agents. The agents act on your behalf pursuant to the terms and conditions set forth in the power of attorney. Powers of attorney can give agents broad powers which may even be effective if you no longer are in full possession of your faculties; therefore, you want to consult an experienced Palm Beach County estate planning or probate attorney before you execute any power of attorney.
Power of Attorney Types
You can choose from several types of powers of attorney depending on your goals and needs. It is crucial that you have an attorney who understands the various types of powers of attorney to ensure that you have the appropriate document. Otherwise, you may be placed in a situation where your wishes may not be met if your agent is unable to act because your power of attorney is incomplete or invalid.
Examples of power of attorneys you may choose to utilize include but are not limited to:
- General Power of Attorney – This power of attorney gives your agent broad power to act on your behalf to perform any act that you could legally do yourself. A specific list of the powers are included in the POA but typically include the power to transact any type of financial activity including opening and closing accounts; buying and selling property; filing and settling lawsuits or disputes; and, borrowing and lending money.
- Durable Power of Attorney – A Durable Power of Attorney is a general power of attorney that contains a clause that states the power of attorney shall remain in full force and effect even in the event you become incapacitated for any reason. As with all other powers of attorney, the authority to act on your behalf terminates upon your death. Since the Durable Power of Attorney usually comes into play only when the principal is incapacitated or unavailable, any legal deficiency will probably be discovered too late to be corrected.
- Limited Power of Attorney – As the name implies, this type of POA is executed for a limited or specific purpose. A limited power of attorney is often used in a real estate closing where one party designates a POA to act on his or her behalf to buy or sell real estate. The power of the agent is limited to the specific transaction of buying or selling a specific piece of real state.
- Healthcare Power of Attorney – With a healthcare power of attorney, you can name an agent to act on your behalf to make medical decisions if you are unable to do so for yourself. You can limit the agent’s power to act or grant the person broad power to make decisions regarding medical treatments and care.
Do You Have Questions Regarding a Florida Power of Attorney?
The Law Office of Richard S. Weinstein, P.A. can answer your questions about Florida power of attorneys. Contact us by telephone 561-745-3040 or online to schedule a consultation with an experienced Palm Beach County estate planning attorney.