If you are looking at plans regarding a long term care, it is advised that you consider a power of attorney. There exist a few types of POA, thus, it is best you choose that which suits you and your situation. Also, you may consider signing a power of attorney if there exist the tendency that you may develop a mental condition that could hinder your ability to make correct decisions. Signing a POA requires you to have an in-depth insight into what the document entails, the reason behind the document, among other crucial things. A competent attorney will help you understand all you have to before signing the document; for this reason, you need to hire one. We boast of the best attorney and they can be of great help. Contact us and we will be willing to assist you.
Types of powers of attorney
There are different types of powers of attorney based on the limit or extent of the authority.
General power of attorney: this type of POA gives the agent a very broad scope. They can handle issues touching on various aspects of the principal’s personal and fiscal affairs.
Durable power of attorney: This power of attorney goes beyond disability or incapacity. The agent is authorized to act regardless of whether the principal is incapacitated. It is revoked by the principal.
Limited power of attorney: this type of POA only authorizes the agent to perform limited actions and on only certain kinds of transactions as spelled out in the document, or a limited period.
Springing power of attorney: This is the kind of power of attorney that only goes into effect when the maker falls into incapacity. When they get well, the authority is terminated. The springing power of attorney is no longer recognized in Fort Lauderdale.
Relevance of a power of attorney
A power of attorney is a powerful and highly useful document. It empowers the agent to carry out business operations on behalf of the principal during their physical and mental absence. This way, the smooth running of things does not fall short simply because the principal is ill or temporarily disabled. Depending on the wordings of the power of attorney, the agent may have access to the principal’s bank accounts to make important purchases or financial transactions, liaise with contractors and business partners, make medical or financial decisions, carry out estate planning, etc. A power of attorney makes it possible for the principal to be present even in their absence. Most estate planning attorneys recommend including a POA in an estate plan in order to plan for incapacity. When the principal becomes incapacitated due to accident, severe illness, dementia or Alzheimer’s amongst others, the attorney-in-fact steps into their shoes to take charge of their affairs. This helps to prevent the lengthy court process of guardianship.
- Power of attorney are vital estate document. For your safety and long term healthcare, you need to include it in your estate plans.
- Estate plans can be made to reflect and implement your mid, short and long term plans. However, you can speak with an estate planning lawyer to know suitable documents that would reflect these plans.
- Since estate plans are made in preparation for any uncertain life occurrences, you need the right lawyers to ensure your desires and plans are duly implemented.
- Fort Lauderdale estate lawyers would guide you through any probate process. Also, the estate lawyer can step in a play the role of the executioner of your estate plan.
Contact a Fort Lauderdale Estate Planning Lawyer
If you reside in Fort Lauderdale and you need help regarding the planning of your estate, and also how to make the right plans for power of attorney, contact our estate planning lawyer in Fort Lauderdale.
Estate planning can be a tough task, depending on how you want your estate to be planned. Ever more complicated is planning it all by yourself. To ensure that your estate is well planned, it is best you contact a professional, one who is quite conversant with estate planning and the estate planning laws in Fort Lauderdale.