When people plan for estate administration, they may decide to appoint a power of attorney. With this decision, they should make sure that they trust the individual they appoint. Although a power of attorney does not have unlimited power, their decisions can affect you directly. A power of attorney is someone who steps in to make decisions for you when you are unable to do so. If your health fails and you are not in a clear state of mind or are unconscious, your power of attorney can make decisions based on wishes you have shared with them. This can include a variety of aspects. However, you have control over how much power they have. You may only grant them power over decisions regarding your health during emergencies. Other times, you may give them access to control your finances. Each power of attorney is dependent on how much power that individual gives them. Due to this, the amount of power they have can vary.
What can they control?
Naming a power of attorney can be a difficult task. Most people decide to use a family member or close friend. It is important that you have written down your wishes regarding issues so that they know how to proceed with decision-making. A general power of attorney is someone that is given the authority to conduct financial actions on behalf of the other individual. These tasks can include filing taxes, executing contracts or borrowing money. If you are given the role of a limited power of attorney, you are an agent that can take certain actions that are at the discretion of the individual who gave you the authority. They have the ability to make your power as limited or as broad as they would like. A limited power of attorney can vary depending on each situation. The role of a power of attorney is one that has the responsibilities of another individual’s plan. This can prove to be stressful. You should ensure that you are acting according to their plan and how much power was given to you. During these times, it is important to put the needs of the individual you are deciding for first.
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.