Lincolnton Power of Attorney Lawyer

Lincolnton Power of Attorney

There may be times in life when you are unable to fulfill important matters, either due to your absence or incapacity. Without a power of attorney, your family could be left unable to receive benefits or complete important tasks on your behalf. By hiring a Lincolnton power of attorney lawyer, you can set up a financial & healthcare POA and other power of attorney designations to ensure that your wishes are fulfilled if you are incapacitated.

Power of Attorney Basics

When a power of attorney is drafted with the help of an experienced lawyer in Lincolnton, NC, the document can grant an agent the authority to file tax returns, buy property, withdraw money, sign checks, manage benefits, and make other important decisions on behalf of the individual who initially granted the power (the principal). For matters of estate planning, the executor is often granted powers through a power of attorney.

Beyond financial matters, a power of attorney is often used to handle healthcare-related matters. At any point in life, an accident could leave someone unexpectedly incapacitated. Without a power of attorney, there would not be anyone who can make medical decisions on their behalf. The person who has power of attorney authority to make medical decisions is often aware of the wishes of the incapacitated principal. Having a healthcare POA can ensure that your wishes are honored if you are unable to make important medical decisions.

The two most common types of powers of attorney are durable financial power of attorney and healthcare power of attorney. Many people obtain a living will when drafting a power of attorney. Together, these documents outline the expressed wishes of the principal.

When Is a Good Time to Draft a Power of Attorney?

Anyone can benefit from having a power of attorney, and this binding legal document is useful for people of all ages. Once someone lacks the capacity to agree to a power of attorney, it may be too late. If you are a caretaker of someone who is beginning to show signs of dementia or health-related problems that could lead to incapacitation, the time to obtain a power of attorney is now.

To draft and execute a power of attorney in North Carolina, the principal must be of sound mind and able to understand the consequences of granting a power of attorney. Intent will be an important factor when proving the validity of a power of attorney. The principal must intend to grant someone the authority to act on their behalf on important financial, legal, and medical matters.

In North Carolina, the power of attorney must be in writing and notarized. Both the principal and attorney-in-fact (the person authorized to make decisions on behalf of the principal) must sign the document.

It’s important to note that power of attorney rights can vary in duration and scope. You can specify whether the power of attorney is limited to a specific timeframe or purpose. You can also decide that it remains in effect indefinitely, even if you become incapacitated. This is known as a durable power of attorney.

Since legal requirements can change over time, it’s always advisable to consult with a qualified attorney in North Carolina. They can provide personalized guidance based on the most up-to-date laws and regulations.

Benefits of Having a Power of Attorney

A power of attorney provides peace and security for you and your family. In the unexpected event that you or a loved one is incapacitated or absent, a power of attorney can add clarity to what could be an otherwise uncertain situation. When coupled with other important estate planning documents and contracts, a power of attorney can provide useful guidance during medical emergencies and other moments when the principal is incapacitated or absent.

When choosing someone to be the agent who executes the power of attorney, take time to find someone you fully trust. You do not want to authorize someone to handle financial matters if they are not completely trustworthy and reliable.

FAQs

Q: How Do I Get a Power of Attorney in North Carolina?

A:  You can get a power of attorney in North Carolina by hiring an estate planning attorney who understands how to draft and execute the document according to state guidelines. This can help ensure that the document holds up in court if needed. With the help of an attorney, your power of attorney can be written, signed, and notarized in accordance with state guidelines and laws.

Q: What Three Decisions Cannot Be Made by a Legal Power of Attorney?

A: There are three decisions that a power of attorney cannot make:

1. The agent cannot invalidate or change a will.
2. The agent cannot act against the principal’s interest.
3. An agent cannot violate the terms of the power of attorney document.

It is important for both the principal and the agent to understand which actions could invalidate the agreement.

Q: Who Can Be the Agent for the Power of Attorney?

A: Any competent adult can be named as an agent for your power of attorney. One of the most important factors to look for is trustworthiness. If you are incapacitated, the agent will have access and control over your finances. Make sure that you authorize someone who can be trusted to handle your affairs if you are incapacitated or absent.

Q: What Is a Durable Power of Attorney?

A: A durable power of attorney is a type of power of attorney that does not expire once the principal is incapacitated or otherwise unable to make decisions. The document allows a principal to make a wide range of financial decisions on behalf of the principal in these situations. A durable power of attorney allows the agent to write checks, pay bills, and even withdraw money.

Schedule Your Power of Attorney Consultation Today

When the unexpected happens, you can rely on a power of attorney and other estate planning documents to guide your affairs while you are absent or incapacitated. A power of attorney can provide clarity and guidance during uncertain times. The Jonas Law Firm, P.L.L.C., has many years of experience helping clients draft and execute powers of attorney. To schedule your power of attorney consultation, contact our office today.