Denver, NC Power of Attorney Lawyer

Denver, NC Power of Attorney

You can choose any point in your life to begin planning for a time when you cannot make your own choices, even if you’re still relatively young and healthy. Not everyone can predict when a sudden complication will prevent you from making important and necessary decisions. That’s why it may be a good idea to consult with a Denver, NC, power of attorney lawyer about your options before the need arises.

The Jonas Law Firm, P.L.L.C., has assisted countless clients with their legal needs regarding making official documents for their families and beneficiaries. We can handle situations involving our client’s assets, trusts, probate procedures, financial & healthcare POA, and more.

What Is a Power of Attorney in Estate Matters?

In the law area of estate planning, a legal power of attorney (POA) is a document allowing a person of your choosing to make important decisions regarding your finances and health in the event you were absent, suddenly incapacitated, or thought to be no longer able to make reasonable judgments and actions.

This means that if you, or those you trust, find that your physical health has significantly declined or your mental faculties needed to make sound decisions have begun to wane, there’s a plan already in place as to who will carry out your business matters and see that your healthcare wishes are honored.

Financial and healthcare POAs are the two most common forms but there are other variations of power of attorney. Without a POA in place, your family may be unable to receive benefits, complete your duties, or otherwise make important decisions on your behalf.

You may choose to have a POA in place without having begun your estate plan, but if you have, the executor of your estate is often also granted the various authorities through a power of attorney. Whether the executor or another trusted party, the appointed person is known as an “agent” or an “attorney-in-fact.” Generally, any competent adult can be appointed as an agent if entrusted to fill the role.

What Does a Power of Attorney Allow Someone to Do?

Once put in effect, the POA allows the agent to file tax returns on behalf of the appointer (the principal) in addition to buying property, withdrawing funds, signing checks, managing benefits, or making any other decisions within important matters– all in the principal’s name. This is known as durable financial power of attorney. Some individuals may choose only to appoint an agent for financial matters, while other individuals elect their POA only for healthcare matters. A custom mix of both could also be created.

A healthcare power of attorney is used to establish a person’s authority to handle your health matters and make medical decisions on your behalf should you be unable to speak for yourself due to incapacitation of some degree. Otherwise, no one would be able to make medical choices for a person without a healthcare POA in place. The appointed agent is often aware of the principal’s wishes regarding health-related issues in the event they become indisposed.

All choices for those who have a POA should be made for the benefit of the POA’s creator, or they should align with the choices the person would have made if they could.

FAQs

Q: Why Do I Need a Power of Attorney?

A: A power of attorney is never required of you to create. However, it’s a wise decision to begin drafting a POA if you’re worried about the management of your assets or conflict arising between your relatives should you suddenly become indisposed. POAs can be amended over the years if you like, as well as be revoked in the event you regain your faculties after a debilitating health condition.

Q: Does a Power of Attorney Have to Be Filed With the Court in NC?

A: In Denver, and all throughout North Carolina, you aren’t require to file a power of attorney with the court. Having the POA notarized is also not required but is strongly advised. Once the POA is drafted– through a state form, software, or power of attorney lawyer, etc. –proceed to have the document notarized, copied, and stored in a safe place. It’s recommended to give your agent a copy along with potentially filing copies with your bank and land records office if real estate is involved.

Q: What Three Decisions Cannot Be Made by a Legal Power of Attorney?

A: A legal power of attorney does not grant the appointed agent the ability to render the will of the party who appointed them (the principal) invalid, nor may the agent be authorized to make amendments to the principal’s will. The agent is also not allowed to make any decisions or carry out actions that are against the principal’s interests. Thirdly, the agent is not allowed to violate any terms outlined in the power of attorney document.

Q: How Much Does a Power of Attorney Cost in NC?

A: The costs of finalizing a legal power of attorney will vary depending on your situation. The type of POA being drafted, how complex the needs of the person filing the POA are, and the POA attorney chosen to oversee their legal needs all factor into the expenses of creating a power of attorney. During a consultation, an attorney will discuss the total cost of the services needed to ensure you are compatible.

Q: Does a Spouse Automatically Have Power of Attorney in North Carolina?

A: Despite the many rights granted to spouses, no law will automatically grant a spouse with a power of attorney. It is possible for your spouse to be appointed as an agent or a co-agent along with another party, but only a legal power of attorney document stating a spouse as such will be considered enforceable. If someone else is appointed as sole agent with POA, it’s very likely their authority will supersede the spouse’s input or intervention in many matters.

Consult With an Estate Planning and Power of Attorney Law Firm

Creating a power of attorney according to your terms is a wise decision to make if you’re worried there may be disputes or conflicts following your incapacitation. Implementing a POA can allow peace of mind, as you know a trusted person will be responsible for making important choices.

Allow an estate planning attorney to help you feel confident about your family’s future and that your wishes will be honored. Schedule a consultation with a qualified and skilled POA lawyer at The Jonas Law Firm, P.L.L.C., to discuss your options for a POA.