Powers of Attorney
Powers of Attorney
Chico Estate Planning Lawyer
A Power of Attorney is a legal document used in estate planning which designates another person to act in your stead. Various types of Powers of Attorney exist, which have different purposes and which may go into effect under different circumstances. At The Law Office of Nikki Farris, we can guide through all of the necessary steps of estate planning, including the use of Powers of Attorney.
Our attorney team has been handling the legal matters of clients in and around Chico for several years. Each estate planning attorney at the team brings a wealth of legal knowledge, experience, and commitment to service that sets our firm apart. When it comes to creating a viable estate plan for you, we can design one that is specifically tailored to your needs and objectives. Powers of Attorney may become part of your overall plan and will be used according to your wishes.
Types of Powers of Attorney
A Power of Attorney is a legal document which names someone you trust to act as your legal representative in matters of finance, law, health care, and other issues. The person you name has the power to make binding decisions on your behalf. A Power of Attorney may go into effect only when you become too incapacitated or ill to make your own decisions or it may become effective immediately.
A Durable Power of Attorney is a comprehensive one in which your named person takes over all of your financial affairs. No incapacity or illness is necessary for the Durable Power of Attorney to be used. The person whom you have designated can then sign your name to legal and financial documents, acting in a fiduciary capacity.
Powers of Attorney may be general, meaning that your representative will act in your best interests on all matters that you would have had under your control. Powers of Attorney can also be limited or specific, in which your representative can only act on your behalf in certain affairs or single matters, such as in a single real estate transaction or as a signer on a specific financial account. Powers of Attorney can also impose time limits on how long they are valid. You can revoke any Power of Attorney in writing at any time as long as you are mentally competent.
Medical Powers of Attorney, also known as a health care directive, gives another person the ability to make health care decisions for you when you are unable to. These decisions may include what kind of medical intervention you do or do not wish to have as well as end-of-life care.
Our firm can ensure that you understand the different types of Powers of Attorney and include the ones that are suitable to your situation. To learn more about these legal documents and how they can be used in your estate plan, contact us for a consultation.
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