If you become severely incapacitated, a power of attorney is essential to ensure your loved ones have the necessary tools to make pertinent decisions about your healthcare and finances. In the absence of a power of attorney before any disability or incapacity, the future of your healthcare and assets may take a trajectory that is dramatically different from what you would have wished.
A Las Vegas power of attorney lawyer can help you create the right documents to accomplish your goals while giving you peace of mind about the future. An established estate planning attorney can help you draft comprehensive power of attorney forms that include all the powers required for effective healthcare and asset protection planning.
There are several categories and types of power of attorney documents that a Las Vegas lawyer could help you draw up. The person who makes the power of attorney is known as the principal, while the person they empower to act on their behalf is known as the agent.
A limited power of attorney contains specific powers that the principal gives to their agent to perform on their behalf, often for a temporary period of time. A common example is to empower the agent to sell a specific asset, such as real estate, while the principal is out of the country. On the other hand, a general power of attorney gives the agent the broad authority to handle any of the principal’s financial, business, or legal affairs.
A power of attorney can also be a durable power of attorney, which will remain in force even if the principal becomes incapacitated.
Most of the time, a general power of attorney takes effect immediately upon signing and is “durable”, meaning it remains valid if the principal becomes incapacitated. Alternatively, a principal can create a springing power of attorney that will be dormant until a certain event happens, such as the principal’s incapacitation. A non-durable general power of attorney will terminate when the principal becomes incapacitated.
The authority given to the principal’s agent in a power of attorney document can pertain to financial decisions, healthcare decisions, business decisions, and other personal interests. A power of attorney document can also be used to empower the person of your choice to take care of your children, whether that document triggers upon your incapacitation or due to a short-term event, such as a prolonged absence from your family.
A Las Vegas attorney can help you choose the most advantageous power of attorney documents that protect your interests and those of your loved ones. A power of attorney can provide numerous benefits for you as well as those whom you hold most dear.
We can help you choose the most advantageous power of attorney documents that protect your interests and those of your loved ones. A power of attorney can provide numerous benefits for you and help ensure that decisions are made smoothly if an emergency happens, while also protecting your preferences.
You can also use a combination of different documents to provide for temporary and longer-term situations revolving around your finances, healthcare, assets, and other deeply private concerns.
Different documents can give your agent varying scopes of authority. For example, if you are a business owner and you want to appoint an agent to manage your legal matters, sign contracts on your behalf, and handle other business matters, a power of attorney can be an invaluable legal tool. Likewise, creating a power of attorney so that your healthcare decisions are provided for if you become disabled or incapacitated can remove uncertainty at a vulnerable time.
A power of attorney can include safeguards that eliminate the possibility of abuse or misuse, and ensure your family members don’t have to open a court appointed guardianship to manage your affairs. Rather than a court making decisions if you become disabled or incapacitated, you can empower the succession of your chosen agents to do whatever needs to be done in the future.
A Las Vegas power of attorney lawyer can ensure that you fully comprehend the implications of your choices and that these documents fulfill all the necessary legal requirements. If you have questions about establishing a power of attorney or other estate planning needs, do not hesitate to contact our office today to schedule your one-on-one-legal consultation.
