Leesburg Power of Attorney Lawyer
Most of us do not want to spend much time thinking about the possibility of a future where we are unable to handle our own financial affairs or medical issues. However, every day, people in Leesburg find themselves in that situation.
A Leesburg power of attorney lawyer can help you be prepared for whatever the future holds. When you spend a short period of time working with an experienced trust and estates lawyer to set a plan in place, you can rest assured that your affairs will function as they should regardless of what comes next.
Overview of Power of Attorney
Power of attorney is a grant of authority given to someone to make decisions and take actions on another person’s behalf. The person granting authority may only authorize very limited use of power. For instance, an individual who is unable to attend a real estate closing may grant power of attorney to another person so that they can sign necessary documents on the day of closing. In that case, the power is limited in scope and duration.
Other times, a person may grant power of attorney that is broad in scope to someone they trust that allows that person to manage all their financial affairs, including depositing checks and paying bills. Powers of attorney are used frequently to enable loved ones to make decisions about medical care on behalf of their relatives.
A Leesburg power of attorney lawyer can craft a power of attorney to suit the needs of a person. In many cases, power of attorney can avoid the need for costly and expensive guardianship proceedings. However, it is important for the person granting authority to understand what it entails.
Understanding What is Authorized
When someone gives power of attorney to another, they authorize that person to act on their behalf. The grantor is bound by decisions made under power of attorney even if they do not agree with those decisions. Therefore, it is essential for the grantor to trust the judgment of the individual to whom the power is granted.
A Leesburg power of attorney lawyer could explain the options available and help design a power of attorney that allows the desired actions without granting unnecessary authority. For instance, a power of attorney might enable a relative or neighbor to write checks only up to a specific amount or only for certain purposes.
When Powers Take Effect in Leesburg
Powers of attorney can be designed to take effect immediately or to not go into effect until a certain event occurs. Traditionally, a power of attorney became ineffective when the person granting authority grew incapacitated and unable to make decisions for themselves. Since this made the power useless at the time when it was most needed, the laws were changed. Now, most powers of attorneys are created to be durable, meaning that it continues in force, even if the grantor becomes incapacitated.
When a power of attorney is set up to take effect in the future, it is referred to as a springing power of attorney. A lawyer could review the available options to determine which makes the most sense in a particular case.
Contact a Leesburg Power of Attorney Lawyer
It is possible to create a power of attorney without the assistance of an attorney. However, guidance from an experienced Leesburg power of attorney lawyer could help you avoid costly mistakes.
If the document creating the power does not comply with legal requirements, it may not convey the powers needed. At the opposite end of the spectrum, a power of attorney designation may grant more power than you intended, which could lead to abuse or errors. A power of attorney lawyer could craft the documents needed to protect your interests safely and cost-effectively. For a free consultation to learn more, call now.