Life can take an unexpected turn at any moment, so it is important to always be planning for the future. At Roney & Knupp our attorneys are prepared to help you prepare for the future, so you can enjoy the present . Our attorneys offer a wide variety of estate planning services and we would love the opportunity to represent you!
We provide the following estate planning services:
- Simple Wills
- Living Trusts
- Durable Power of Attorney for Finances
- Limited Power of Attorney
- Power of Attorney for Healthcare
- And Other Estate Planning Documents
Question: What is a Power of Attorney?
Answer: A Power of Attorney is the written authorization to act on someone else’s behalf or to represent them in legal matters. The person who accepts the power of attorney, also known as the agent, steps into the shoes of the person who authorized the act. For instance, an elderly parent might grant power of attorney to their child to take care of the family finances.
Question: Are there different forms of a Power of Attorney?
Answer: There are several forms of a Power of Attorney. The simplest form is the Limited Power of Attorney, where the agent only has the power to act in a restricted manner or is limited to a specific function (such as a business transaction).
Another form of Power of Attorney is the Durable Power of Attorney for Finances. This is where the agent, usually a relative of the person assigning the power, legally has the authority to manage the assignor’s finances. This may be done in the case where the assignor no longer has the ability to control his or her finances.
A third common Power of Attorney is the Power of Attorney for Healthcare. This is where the agent, again usually a relative, has legal authority to make medical decisions on behalf of the assignor. This may be done before a medical procedure, or if there has been a medical complication in the family.