Knoxville Tennessee Estate Planning Attorney Preparing a Power of Attorney
An important part of life planning is having a power of attorney document prepared. This document protects your loved ones in case you are suddenly impaired by a life-threatening accident, illness, or other incapacitation.
A power of attorney is a document that allows you to appoint a person (usually your partner, a relative or friend) to handle your affairs while you are unavailable or unable to do so. The person or organization you appoint is referred to as an “Attorney-in-Fact” or “Agent.”
General Power of Attorney – authorizes your Agent to act on your behalf in a variety of different situations.
Special Power of Attorney – authorizes your Agent to act on your behalf in specific situations only.
Health Care Power of Attorney – allows you to appoint someone to make health care decisions for you if you’re incapacitated.
“Durable” Power of Attorney -The general, special and health care powers of attorney can all be made “durable” by adding certain text to the document. This means that the document will remain in effect or take effect if you become mentally incompetent.
Revocation of Power of Attorney – allows you to revoke a Tennessee power of attorney document. It is important to formally revoke a Power of Attorney if you no longer want the designated party to make these important decisions for you.
General Power of Attorney
A general power of attorney is very broad and provides extensive powers to the person or organization you appoint as your agent. These powers usually include:
- Making medical decision
- Handling banking transactions
- Entering safety deposit boxes
- Handling transactions involving U.S. securities
- Buying and selling property
- Settling claims and lawsuits
- Entering into contracts
- Buying, managing or selling real estate
- Filing tax returns
- Handling matters related to government benefits
These documents should be drafted by a skilled Tennessee Power of Attorney lawyer, to ensure compliance with statutory requirements and to be as specific as possible as to the powers granted.
Call our Knoxville Tennessee Estate Planning Attorney at 865-686-7789 and Prepare your Power of Attorney Documents Today
It is all too often that we see clients who have spent money on online wills, online power of attorneys, online living trusts or online living wills and the documents are invalid or improperly prepared and/or executed. Our team will ensure the money you spend on these critical documents is well spent and that they stand up in Court or with your financial or medical institutions.