Hickory Power of Attorney Lawyer

Hickory Power of Attorney

Life is unpredictable. There may come a time when you are unable to handle important matters due to illness, injury, or other circumstances. Without a power of attorney (POA), your family might face challenges in accessing your finances or making critical healthcare decisions. By consulting with a skilled Hickory power of attorney lawyer at The Jonas Law Firm, P.L.L.C, you can establish a POA to ensure that your wishes are carried out according to your plans.

What a Power of Attorney Is

A power of attorney grants someone the authority to handle your (the principal’s) affairs. This can include financial matters such as property and investments and healthcare decisions. POA can be broad or specific, such as a general POA that allows this person (your agent) to make any decisions, while a limited POA covers only certain areas. The POA documents can limit your agent’s power or the length of time you will share the power.

The goal of putting a POA in place is so that you and your loved ones can rest assured that important matters will be addressed promptly if you are unable or incapacitated.

Types of Powers of Attorney

North Carolina recognizes several types of POA, including:

Financial & Healthcare POA

A financial power of attorney authorizes the agent to oversee the principal’s financial matters, such as making investments, handling bill payments, and signing checks. It can be general, which means the agent is authorized to handle all financial matters, or limited, which grants them the authority to handle only specific financial tasks. In addition to a financial power of attorney, creating wills & trusts can help ensure your assets are distributed according to your wishes and provide further protection for your loved ones.

A healthcare power of attorney authorizes the agent to make decisions regarding healthcare for the principal, usually when they cannot communicate their wishes due to illness, injury, or incapacitation. Your agent can decide whether or not you will receive specific medical treatments, if you want end-of-life care, or even if you wish to be admitted to a nursing home or hospice. Similarly, in matters involving your children, a child custody lawyer can help ensure that your rights as a parent are respected and that custody arrangements align with your child’s best interests, including healthcare decisions and other essential matters.

Military POA

A military power of attorney is for individuals serving in the armed forces to appoint agents to handle their affairs while deployed. This can be general or durable, including financial matters, property management, and legal affairs, or “springing” and only comes into effect if the principal is declared missing in action or a prisoner of war.

Real Estate POA

A real estate power of attorney grants an agent the authority to buy and sell properties, manage properties, obtain financing, and handle other real estate legal matters on behalf of the principal. This could include all real estate matters for the principal or limit the agent’s authority to only certain matters. For residential real estate, the power of attorney can specifically address issues related to buying, selling, leasing, or managing residential properties, ensuring the principal’s interests are protected in their real estate transactions.

Limited POA

A limited power of attorney grants an agent to act on behalf of the principal in set, limited matters. Some of these legal matters can include healthcare, real estate, and other financial matters that the document outlines. It can also have an expiration date or be contingent on certain conditions.

Durable POA

A durable power of attorney means the agent will act on your behalf even if you become incapacitated and unable to communicate your wishes. A general durable POA grants the agent broad authority to handle all of your affairs, including financial, healthcare, and legal matters. A limited durable POA grants the agent the ability to handle only specific tasks or matters for you.

Springing POA

A springing power of attorney becomes effective when the principal becomes incapacitated or unable to manage their own affairs. They are used as a safety net in case of unforeseen circumstances such as incapacity, mental or cognitive impairment, or physical disability. The document can include giving an appointed agent authority to make financial and healthcare decisions along with other matters specified in the document. It can either be limited or general as well. In cases where divorce is involved, a skilled divorce lawyer can help ensure that any powers of attorney are updated to reflect the changes in your personal and financial situation following a divorce.

Steps for Making a Power of Attorney in North Carolina

To begin a POA in North Carolina, you will first determine the type of POA that will fit your situation, choose an agent, and gather necessary information, such as personal and agent details, as well as the extent of authority. We recommend consulting with an experienced power of attorney lawyer to make sure you choose the right POA, and can also work with you on a comprehensive estate plan. Clearing up confusion about powers of attorney is crucial, as understanding the scope of authority and limitations can help avoid future complications and ensure that your wishes are properly carried out.

After everything is complete, the POA should be notarized. It should be stored in a safe place that your loved ones can easily access. Also, copies should be given to your agent and any businesses or financial institutions that may need to deal with it in the future.

Benefits of Having a Power of Attorney

A power of attorney can give you and your family peace of mind. If you are incapacitated, a POA can help to ensure that your affairs are handled smoothly. When combined with other important real estate planning documents, a POA can ensure the right choices are made when you are unable to make those choices.

How to End a Power of Attorney

A power of attorney will end either through a revocation, the principal passes away, or the court orders a revocation.

As a principal, you can complete a revocation document which is a written statement that expresses your intent to revoke the POA. A copy of the document is sent to the agent and other institutions or businesses that may have it on file.

A court may order a revocation of the POA if the agent:

• is abusing their authority, such as misusing the funds
• is acting in a way that is harmful to the principal’s interests
• has obtained the POA through fraud, coercion, or undue influence

How an Attorney Can Provide Assistance With a POA

An attorney can be an essential asset when creating a POA in North Carolina. Attorneys can help you tailor the POA to reflect your wishes and address your unique situation. They can ensure that the document includes all the right language to cover medical decisions, financial matters, or property management. They are also familiar with the legal requirements and can ensure your POA complies with all the applicable laws.

You will choose what subjects your agent will have the power to act on for you, including real estate, stocks and bonds, finances, business operations, government program benefits, retirement plans, taxes, and others, as you decide.

Your attorney can help you anticipate potential issues that may arise and choose the right type of POA for your and your family’s needs and goals. They can help you consider who to appoint as an agent and ensure your POA is properly executed and witnessed as required by North Carolina law.

Even after your POA is created, an attorney can provide ongoing support and guidance. By working with an experienced attorney in Hickory, you can be confident that your POA is well-drafted, legally sound, and tailored to your unique needs.

FAQs

Do You Need a Lawyer for Power of Attorney in North Carolina?

In North Carolina, it is not legally required to hire a lawyer to create a POA, but it is highly recommended that you do. Consulting with a lawyer will ensure that your POA is legally sound, customized to fit your specific needs, prepared to handle any potential complications, and that you have a complete understanding of what it includes.

Can I Revoke a Power of Attorney?

Yes, you can revoke a POA in North Carolina at any time as long as you are mentally competent. If you are incapacitated, the POA cannot be revoked unless a court steps in to appoint a person or make other legal arrangements. To revoke a POA, a “Revocation of Power of Attorney” document will need to be completed, signed, and notarized.

Who Can Be Named an Agent in North Carolina?

In North Carolina, you can name any competent adult to serve as your agent. Some people choose family members such as spouses, children, or siblings, others may choose close friends, an attorney, their financial advisors, or anyone they deem fit. No matter who you select, you should ensure they are trustworthy and available to be a competent agent.

What Types of POA Are Available in North Carolina?

North Carolina recognizes general POA, durable POA, limited POA, healthcare POA, springing POA, military POA, real estate POA, and financial POA. Each type serves different purposes, whether you are planning for future medical decisions, managing real estate, or delegating financial responsibilities. Consulting with an attorney can help you decide which type fits your specific needs.

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

An agent cannot create or revoke a will, gift the principal’s assets without their express consent, enter the principal into a marriage or a divorce, vote in elections on the principal’s behalf, serve as a juror for the principal, adopt or place a child up for adoption, represent the principal in court on criminal charges, or act as their guardian, conservator, or executor unless authorized by the court. If you’re in Hickory and need guidance on the limitations and powers granted in a power of attorney, it’s important to consult with an experienced attorney to ensure your wishes are clearly defined.

Schedule Your Power of Attorney Consultation Today

When the unexpected occurs, a power of attorney and other estate planning documents can offer you and your loved ones peace of mind. The Jonas Law Firm, P.L.L.C., has extensive knowledge and experience assisting people with drafting and executing powers of attorney. To schedule a consultation, contact our office today.