Sometimes, circumstances in life can put a person in a predicament where it’s best for someone else to exercise their rights. If a person is incapacitated, unable to act on their own behalf or in their own best interests, a trusted 3rd party will be required to assume some or all of their legal rights, which makes perfect sense.
If a person is in a coma, who will manage their affairs?
If a grandparent is suffering from dementia, who will tend to their finances?
If a person is out of the country for an extended period as a service member or for other reasons, who will protect their property, assets, and make legal decisions on their behalf?
Having a skilled lawyer with experience drafting effective Powers of Attorney (POA) can be of a great benefit if you want to have a say in how your business is administrated, and who administers it, during your absence. Attorney Tonya D. Jones is available at 832-230-4210 if you have questions about your individual situation.
The “Power of Attorney” Authority
In short, initiating a draft of a Power of Attorney will afford you the ability to determine the level of authority that another party will have to act in your place. This form of authority can last for an indefinite term, or can include termination clauses based on any desired instance.
Types of Powers of Attorney
Durable Power of Attorney
Also referred to as the Statutory form, allows a person to make financial decisions on your behalf. This form of POA is often used for estate planning and for the appointment of an “Agent” or “Attorney in Fact” to manage your financial affairs if you’re unable to. This authority can remain active indefinitely unless a termination date is specified or other stipulations are met.
General Power of Attorney
This form of POA is used to give authority to another person over a broad or specific area of your life. A powerful form of POA, displacing this level of authority should be handled with caution.
Medical Power of Attorney
A medical POA gives another person the authority to make medical decisions on your behalf if you, the principal, aren’t able to. When creating this form of POA, estate planning or a Will should be a top priority.
Special Power of Attorney
This form of POA is limited, and appoints a person as an authority to act on behalf of the principal in a specific area, for a specific reason, for a specific outcome, for a specified period of time.
Need to Retain a Houston POA Lawyer?
Contact Attorney Tonya D. Jones Today!
Considerable thought should be invested before moving forward with granting Power of Attorney to another party. Attorney Tonya D. Jones is ready and able to answer any questions you may have about whether assigning a POA is right for you, what form of Power of Attorney to grant and to whom.
Several factors such as the trustworthiness, criminal history, professional capability, availability, and integrity of prospective “Attorney in Fact” or “Agent” should be strongly considered prior to executing the displacement of such authority.
To contact Attorney Tonya D. Jones and our team at Jones Law, PLLC about the particulars of your needs, call us today at 832-230-4210.