A power of attorney (POA) is a document where you can name a person to act on your behalf if you cannot make a financial or medical decision on your own due to severe injury or disability. The trusted person can make health care and financial decisions, which can be crucial to ensuring your medical decisions are respected while you are alive but incapacitated.
Imagine having peace of mind and knowing that your personal and financial matters are secure. Our experienced estate planning attorneys can help you plan for the future, deal with a health crisis, or handle the affairs of a loved one. A Metairie power of attorney lawyer deeply understands state laws and could ensure your legacy is managed exactly as you envision.
Basic Information to Know
As mentioned above, a power of attorney (POA) is a document that allows someone to act on behalf of someone else in certain situations. The person who grants the POA is the principal, and the person who is given the authority to act on behalf of the principal is the agent. For the document to be valid, the principal must be aware of its content and nature when they sign. There are many types of powers of attorney, including:
- Durable remains in effect if the principal later becomes mentally incapacitated
- Special or Limited grants authority to the agent to act on behalf of the principal in specific matters or for a particular purpose
- General grants broad authority to the agent to act on behalf of the principal in financial transactions, business operations, and legal decisions, but it does not extend to healthcare decisions
- Springing becomes effective only under certain conditions, typically when the principal becomes incapacitated
- Financial specifically grants the agent authority to handle monetary matters for the principal, such as managing bank accounts, paying bills, filing taxes, and handling investments
Each type of POA in Metairie has its specific requirements and limitations, so it is important to choose the right lawyer based on your individual needs and circumstances.
Further Details About Local Laws
Each state has civil codes regarding the POA documents and their validity. The state follows a civil law system, distinct from the common law system used in other states, with specific laws regarding the allocation of power and decision making to others.
Under local law, a POA is called a Mandate. The agent or mandatory must accept the authority the principal gives them. Further, if no start date or event would put a POA into effect, the document will generally be effective immediately. The principal can revoke a POA anytime, provided they are competent. Power of attorney laws are complex, and consulting with an experienced attorney in Metairie is advisable to ensure compliance.
Work With a Lawyer in Metairie to Draft a Power of Attorney Document
A POA is one of the most important legal documents you can have. Planning your estate is a necessary step to protect your family and assets. Dealing with legal documents is complex and difficult, but a Metairie power of attorney lawyer could provide step-by-step legal guidance to help you get everything in order. Reach out today to schedule a consultation.
