Power of attorney is an important part of any estate plan that individuals tend to overlook. To cover some of the power of attorney basics, today’s blog focuses on the most frequently asked questions on the topic. With specific questions about how power of attorney applies to you or to learn more, we recommend that you contact a Houston estate planning attorney today.
What is Power of Attorney?
Power of attorney is a legal document that allows another person to act on your behalf. The document creates a relationship between the person appointed (the agent) and the person signing over the right to act in certain situations (the principal).
What Makes a Power of Attorney Legally Valid in Texas?
To create a power of attorney, there are several legal requirements. These include: signing the document in front of a notary public, being at least 18 years old, and having decision-making capacity when you sign the document. Without these requirements, the power of attorney may not be legally valid and may not hold up in court.
What Are the Consequences of Signing a Power of Attorney?
There are several types of power of attorney, and the document can give either general power or limited/specific power to the agent. With a general power of attorney, the agent makes any and all decisions on behalf of the principal. If the power of attorney is limited (i.e., medical or financial), the agent makes decisions only in one specific area of the principal’s life.
Essentially, then, signing a power of attorney document can allow another individual to make decisions on your behalf; however, the agent is only able to make decisions in the way you intended when you signed the document. For example, if you sign a power of attorney allowing someone to make medical decisions for you when you become incapacitated, that agent is only able to make decisions when you are incapacitated. Signing power of attorney does not mean that immediately, another person can take over all aspects of your life – the power is limited to the consent that you give.
Contact a Houston Estate Planning Attorney Today
Power of attorney is a smart way to stay prepared for whatever life might throw your way. To talk about the best way to include power of attorney provisions in your estate plan, contact a trusted Houston estate planning attorney. At McCulloch & Miller, we provided legal advice based on decades of experience in the field, and we offer our clients peace of mind as they prepare for the unexpected. If you would like to see what our team can offer you, know that we are standing by and ready to take your call.
If you would like to set up a consultation with one of our Houston estate planning attorneys at McCulloch & Miller, give us a call as soon as possible at 713-936-9073. You can also fill out our online form to tell us about yourself and have a member of our team contact you as soon as possible regarding possible next steps.