Power of Attorney
Power of Attorney
A power of attorney (POA) is a powerful form of estate planning that grants broad power to a person you choose. That person is granted control of your assets on your behalf if you’re unable to control them yourself.
Preparation of documents assistance
Whether you require a lawyer to assist you with the preparation of these documents is dependent on you and the situation. Some powers of attorney are simple and straightforward, and you might not feel you require legal assistance in their preparation.
Some powers of attorney will apply to several facets of your life and give another person significant authority over your and your property. Having experienced legal counsel behind your power of attorney is the best way to make sure the agreement protects you and is consistent with Ohio law.
In Ohio, there are three types of POA documents:
- Durable Financial POA - Enables you to appoint another person whom you trust to handle financial matters on their behalf. The term “durable” refers to the form remaining legal even if you should become mentally handicapped. Therefore, it is recommended to choose a spouse or family member. This type of power of attorney is intended to avoid the necessity of an expensive and time-consuming court proceeding to have a guardian appointed in the event you are no longer able to handle your own financial affairs.
- Springing Durable Financial POA – Similar to a Durable Financial POA, this is active after a specific date or event. For example, some people write into their FPOA that it is only active if they become incapacitated. That means that you cannot understand or respond to questions about your finances. Your FPOA can include an expiration date, or it can continue until you die.
- Durable POA for Health Care and Living Will - Authorizes another person to obtain your health information and to make health care decisions for you. You can allow this person to get your health information and communicate with your health care provider at any time, but health care decisions can be made for you only if and when you cannot make health care decisions for yourself.
Can a Power of Attorney Change a Will?
As one of the most important legal forms for estate and elder care planning, a Power of Attorney is a critical document for coordinating your life’s affairs. A Power of Attorney cannot change a written will that has been written by an experienced attorney. The Power Of Attorney can possibly make many changes to the assets surrounding the estate.
Setting up these documents is complex and should be handled with meticulous detail so that your wishes are made known and will be adhered to. Attorney Kelly Parks has decades of experience assisting seniors begin this process. We take the time to fully understand your wants and needs before developing a tailor-made plan suited for you. Call us today to get started.
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Attorney Kelly Parks
Kelly Parks can help you plan for the future with a comprehensive estate plan. We will work with you to ensure that your assets and family members receive all of the benefits and protections that the law can provide. We provide services in:
