When people create an estate plan, they prepare for what happens to their assets when they die. It is during this time that people often appoint a power of attorney as well. Sometimes, people reach a point in life where they are no longer able to make decisions for themselves. When this happens, the power of attorney is able to make decisions for the individual with their consent. This may happen if a person’s mental or physical health deteriorates and they can no longer communicate their desires. In the event of this, their power of attorney may make decisions that are in the individual’s best interest.
What Does a Power of Attorney Do?
A power of attorney is an individual that can be involved in making decisions for another’s life. If a person is dying or incapable of communicating their wishes for themselves, a legal document may give another person the authority to make these decisions on their behalf. A power of attorney must be someone who can be trusted to will act in the person’s best interest. Many choose a family member or a loved for the position. It is important that the power of attorney documents all the individual’s wishes so they can make the proper decisions if necessary.
A power of attorney does not have unlimited authority. They only have as much influence as they are allowed, which can be limited. A power of attorney can be given the responsibility of making decisions regarding health emergencies, financial access, as well as other matters. Every power of attorney may have different responsibilities because of this.
Categories for Power of Attornies
There are several different categories that cover all the responsibilities a power of attorney may have. These are broken up depending on what aspects of life they are responsible for handling. The most common categories in California are as follows:
- General Power of Attorney: This allows the individual to conduct the same fiscal actions that an individual would do for themselves. This may require filing taxes, executing contracts, or borrowing money.
- Limited Power of Attorney: This individual has more of a limited power than that of a general power attorney. They are restricted in the amount of authority they are given.
- Durable Power of Attorney: This allows the individual to make all monetary decisions on another’s behalf.
- Guardianship Power of Attorney: The may allow an individual to care for another’s minor child as well as make all medical and educational for them.
- Medical Power of Attorney: This allows an individual to make health care decisions for an individual.
- Tax Power of Attorney: This allows another individual, typically an accountant, to handle the filing of taxes with the state of California.
- Vehicle Power of Attorney: This permits the owner of a vehicle in California to choose an individual to take care of the transfer of ownership.
Contact our Firm
If you have been assigned as a power of attorney and wish to consult a legal representative, contact the Law Offices of Yacoba Ann Feldman today.
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.