The odds are favorable that you will be either the Principal or the Agent in a power of attorney, or POA, at some point in your life. A POA can be an extremely useful legal tool when drafted and used properly. Unfortunately, people frequently execute a POA without really understanding the power and authority they are bestowing on the Agent. For example, exactly how does an agent use a power of attorney? Furthermore, are there limits to the authority granted to an Agent under a POA? A power of … [Read more...] about How Does an Agent Use a Power of Attorney?
A power of attorney, or POA, is a commonly used estate planning tool. Before you consider executing a POA, however, you should understand the power one confers as well as the various types of POAs available. In addition, you need to have a firm understanding of the circumstances under which a power of attorney terminates. A POA is a legal document that allows you, referred to as the “Principal”, to appoint an “Agent” who will have the legal authority to act on your behalf. The extent of the … [Read more...] about How a Power of Attorney Terminates
Creating a comprehensive estate plan typically means creating and executing much more than just a Last Will and Testament. Exactly which additional documents will become part of your estate plan will depend on individual circumstances, goals, and concerns. Having said that, however, there are some estate planning documents that are commonly added to an overall estate plan. One of those is a durable power of attorney. Of course, you should consult with your estate planning attorney before … [Read more...] about Should I Have a Durable Power of Attorney in Houston Texas?
A Power of Attorney is an important piece to your estate plan, but which kind of POA you need will depend upon your specific situation. ADurable Power of Attorney for example, gives someone of your choosing the ability to act and speak on your behalf both when you’re competent to handle your own affairs as well as when you’re not. For many people – especially married couples – this is the POA of choice. It allows someone you trust, a spouse for example, to take care of your financial affairs … [Read more...] about Should You Have a Springing Power of Attorney?