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Your Comprehensive Estate Plan: A Power Of Attorney

At MDSLaw Ohio in Marietta, our founding attorney, Matthew D. Scott, works with clients to ensure their estate plan is comprehensive and includes everything they will need for their family in the event of their death or incapacitation. A power of attorney, customized for your specific needs, is an integral part of every estate plan.

What Is A Power Of Attorney?

A power of attorney is a document that provides legal authorization for someone to make decisions on your behalf. A valid power of attorney can help ensure that both your financial and health care-related affairs can be managed in the event you are unable to take care of your affairs on your own. A power of attorney allows you to designate someone you trust to act on your behalf. There are different types of powers of attorney, including:

  • A general power of attorney: In a general power of attorney, you can appoint someone else to manage all of your financial affairs.
  • A special or limited power of attorney: A special, also known as a limited power of attorney, has a defined and specific purpose. With a limited power of attorney, you can revoke it anytime.
  • A durable power of attorney: In a durable power of attorney, you identify someone who will make decisions on your behalf in the event you become incapacitated. It goes into effect when you become incapacitated. The person you designate in a durable power of attorney will take over with making decisions and by its nature, does not end until death.
  • A nondurable power of attorney: In a nondurable power of attorney, if you become incompetent or lose your ability to make decisions, the power of attorney goes away. In effect, it is the exact opposite of a durable power of attorney.
  • A conditional power of attorney: In a conditional, also called a springing, power of attorney, it only goes into effect if something specific happens. For example, your incapacitation could trigger a conditional power of attorney to go into effect.

An experienced power of attorney lawyer can help you understand the different types of powers of attorney and know which one you need for your specific circumstances.

Crafting A Valid Power Of Attorney In Ohio

Banks, hospitals and other institutions often have specific requirements for accepting a power of attorney. An experienced Ohio power of attorney lawyer can make sure that any power of attorney that you would like to execute will comply with Ohio laws. A professionally drafted document is more likely to be accepted by the institutions who need to rely on it. Avoid costly and difficult delays or other issues in the event your appointed agent needs to act on your behalf.

Choosing The Right Type Of Power Of Attorney

While having a valid power of attorney is vital for making sure that someone else can manage your affairs, it is also essential to choose the right type of power of attorney. An experienced estate planning attorney can help assess your financial and medical situation and help you analyze what kinds of powers of attorney you might need. Knowing how and when to limit your agent’s authority and decision-making abilities can safeguard your interests and protect you against an abuse of power.

Consult A Marietta Power Of Attorney Lawyer For Free

Our estate planning lawyer at MDSLaw Ohio offers free initial consultation appointments. During this consultation, you can ask questions and get a better understanding of how our firm can help you craft a comprehensive estate plan. To schedule your free appointment, call our office at 740-923-4235 or send us an email through our website.