A Power of Attorney (POA) is a legal document that allows you to appoint another person (agent or attorney-in-fact) to act on your behalf on various matters in the unfortunate event you are unable to act for yourself. Depending on the POA, the agent’s powers can be either broad or limited. There are many benefits to having a POA. For example, it can give you peace of mind knowing that someone you’ve entrusted can handle your affairs if you’re incapacitated or unable to do so yourself. In the event you do become incapacitated and do not have a POA, your loved ones may need to go to court to seek guardianship or conservatorship. Having a POA may prevent your loved ones from having to go to court in the event they need to seek out guardianship or conservatorship. Having a POA also protects your assets and provides flexibility when the time comes.
Types of Power of Attorneys in Ohio We Can Assist You With
At Graham Law, our estate planning attorneys can help you prepare a Power of Attorney. We’re proud to say we’ve been doing this since 1923 for residents of Ohio. Here are the types of POA’s we can assist with:
Healthcare Power of Attorney (also known as a durable power of attorney for healthcare): This is a document that you use to name somebody as your appointed attorney to make healthcare decisions for you in the event that you can no longer make those decisions for yourself. Your POA would speak with your doctors, review your medical records, give informed consent, arrange for your admission and discharge from healthcare facilities and more.
Durable Power of Attorney: This document allows your appointed attorney to make financial decisions on your behalf in the event you are no longer able to do so. This type of POA allows your appointed attorney to do your banking, pay your bills, pay your taxes, discuss matters with your personal attorney, deal with your insurance agents, accountants and handle 401K and social security matters on your behalf. They could also carry on your business operations if you have a business.
Limited Power of Attorney: This document restricts the agent’s authority to specific tasks or a certain time frame. For example, a senior can grant their next of kin a limited power of attorney to handle a lawsuit on their behalf if the senior doesn’t want to deal with the lawsuit.
Contact Our Law Firm for Assistance on Preparing Your Power of Attorney
In the event that you do not have a POA, then someone will have to go through probate and file a guardianship action to get appointed as a court appointed guardian. For this reason, we recommend getting a POA done based on your individual needs before it’s too late. This ensures you are saving money and time from having to go through probate court if you’re ever faced with this dilemma, as well as alleviating any burdens in advance from your loved ones. Contact our Zanesville attorneys today for more information on how we can assist with preparing your Power of Attorney needs.
