Putnam County Powers of Attorney Lawyers

Powers of Attorney

Power of Attorney Lawyers in Brewster, NY

Planning for the future is incredibly important. One of the ways to do this is by creating a comprehensive estate plan. An essential part of this plan is to create a power of attorney. This allows you to grant authority to another individual if you cannot act for yourself, either because of incapacitation or simply because you were busy. No matter the reason, it is important to be prepared. The Law Offices of Andres D. Gil, PLLC has the skill and experience necessary to help you create a power of attorney that allows you to achieve your goals while protecting your interests. Contact our firm today for quality legal representation in all of your estate planning matters.

What is a Power of Attorney?

The power of attorney is a legal document that should be included in every estate plan.  It provides your agent with the authority to pay your bills and handle your financial affairs if you become incapacitated. Generally, there are two types of Powers of Attorney categorized based on when they go into effect. A springing power of attorney and a durable power of attorney.  The two are distinguishable as to when they go into effect.  A durable power of attorney goes into effect at the moment it is executed, whereas, a springing power of attorney goes into effect at the movement of an event, such as incapacitation.

General vs. Specific Power of Attorney

A general power of attorney allows you to give someone else the authority to execute anything on your behalf. It is seldom recommended to execute a general power of attorney because it provides the unlimited ability for your agent to act on your behalf. It is revered today and most banks and financial institutions will not accept a general power of attorney. A specific power of attorney is beneficial for allowing another party to act on your behalf for only one particular event, such as buying a house.

Why do I need a power of attorney?

A power of attorney can provide you with a wide variety of benefits, regardless of what stage of life you are in. While many people like to have a power of attorney secured in the event that they become incapacitated, it is also important to consider creating this document for other situations as well. For example, married couples that spend a lot of time apart because of employment demands should also consider this document, as they may need to act on behalf of their spouse.

Contact a Putnam County Estate Planning Attorney

When it comes time to focus on planning for the future, be sure to consider a power of attorney. You don’t necessarily have to draft a power of attorney at the same time as you create your will, a trust, or other facets of an estate plan, but you should be sure to have an attorney to guide you through the process. The Law Offices of Andres D. Gil, PLLC can effectively draft a power of attorney that can best suit your interests. Contact us today for a free consultation to discuss how we may help you meet your needs.

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