Granbury Power of Attorney Lawyer

How an Experienced Attorney Can Help You with a Power of Attorney Document in Hood County

Power of attorney documents can be used under a variety of circumstances, depending on your needs at the time. Those who spend a lot of time traveling may have an agent who can act on their behalf when they are unavailable to sign papers, transfer money, deposit money, and more. Because the agent is acting on their behalf—with their knowledge—they are generally bound by the agent's acts—even if those acts are foolish.

For example, if an agent is given the authority to manage financial affairs and purchases something the principal does not want, the principal will likely still be required to pay for that purchase because of the POA. Before deciding on a power of attorney document—or on an agent—speak to a knowledgeable Granbury power of attorney lawyer who can answer questions and provide potential alternatives to a power of attorney document.

What Is a Power of Attorney?

A document that gives a person the legal right to conduct business or any other task on someone else's behalf is known as a power of attorney. The person who creates a power of attorney is known as the principal, and the person acting on behalf of the other person is known as the agent. Powers authorized in a POA document can be as broad or narrow as desired. It is important to note that a power of attorney is not a court order—and a court order will always prevail over a power of attorney document.

A power of attorney can only be created by a person who is at least 18 years old and who understands what they are signing and what they are allowing the agent to do on their behalf. Some POA documents have an expiration date, while others automatically expire upon the principal's death or incapacitation.

While businesses and banks will usually accept payments or deposits made by an agent on behalf of a principal, many financial institutions will not allow an agent to close an account or withdraw funds. An agent should be chosen very carefully, particularly a statutory, durable, or general POA, which allows the agent to perform many tasks on behalf of the principal.

Are There Different Types of Power of Attorney Documents?

Some examples of POA documents include:

• A general power of attorney is similar to a durable or statutory POA; however, unlike a durable POA, a general POA automatically expires in the event of the principal's incapacitation. The powers given in a general power of attorney are very broad, which makes the choice of an agent extremely important.
• A minor child is spending a month in the summer with her aunt and uncle. A power of attorney for a nonparent caregiver gives the agent permission to make decisions for the child that a parent would usually make.
• A durable power of attorney (DPOA)is also known as a statutory POA, and it goes into effect as soon as it is created and signed. This type of POA gives another person the authority to make property transactions and conduct most financial matters—including banking tasks—should the principal be unable to conduct business on their own. A DPOA also allows the agent to act on the principal's behalf in the event the agent becomes incapacitated. This type of POA document remains in place until the death of the principal or the power of attorney is revoked.
• A piece of property is being purchased, but the person buying the property must be out of town on the closing date. A special power of attorney gives another person the legal ability to sign the closing documents. A special POA is very limited, usually delegating power to an agent to act for a single business transaction or to make medical decisions for the principal for a specific time period.
• A medical power of attorney is a legal document that will ensure that someone you trust will be able to make decisions about your medical care in the event you become incapacitated. The person chosen to make those decisions is called a proxy or healthcare agent. This person can make decisions regarding end-of-life care, surgery, medication, and medical treatments.

Can the Power of Attorney Be Revoked?

As long as the principal is mentally competent, a POA document can be revoked at any time without permission from the agent or anyone else. The original POA must be destroyed, along with all known copies of the document. An attorney will then prepare a revocation document. This will include the name of the agent appointed in the original document and the date of the original POA.

The revocation must be notarized and then delivered to the agent in a way that can be proven to have been received. This could be via certified mail, or it could be served to the agent by a process server or the local sheriff's department. Every person and business the agent used the original POA with must be notified of the revocation, so they know the agent is no longer acting on behalf of the principal.

Contact a Granbury, TX Power of Attorney Lawyer

Whether you need a limited or broad POA document, you should always speak to a highly skilled Granbury power of attorney lawyer. A POA can be a very significant document and one that you should not create lightly. A Hood County power of attorney lawyer from The Law Offices of Rob Christian can help you understand whether this type of document would benefit you and, if so, what type of POA you need. Contact our office today at 682-936-4003 to schedule a free consultation.