After completing plans for the time of your death in your will and trust documents, you may shift your focus to plans for when you are still alive but incapacitated and unable to act on your own. This is coordinated through a power of attorney, but you should know there are several legal documents to choose from. So, please continue reading to learn more about the different types and how an experienced Putnam County power of attorney lawyer at the Law Office of Andres D. Gil, PLLC, can help you select the best one for your preferences and circumstances.

What are the different types of powers of attorney to choose from?

Generally speaking, a power of attorney is a legally-binding estate planning document that gives your appointed agent the authority to make legal, financial, and even healthcare decisions on your behalf. Specifically, though, the different types to choose from are as follows:

  • A general power of attorney: this power may take effect immediately and expire when you revoke it, become incapacitated, or pass away.
  • A durable power of attorney: this power may take effect when you become incapacitated and carry on to handle your affairs after you pass away.
  • A limited power of attorney: this power may take effect only when certain decisions need to be made, as specified by you.
  • A springing power of attorney: this power may take effect only after you experience a triggering event, like mental or physical incapacity.

What happens if I do not execute a power of attorney document?

Of course, it is only a hypothetical scenario that you will become unable to make important decisions for yourself and by yourself. You may also hope that this day never comes. However, just like with all your other estate planning, you must cover all your bases, so to speak, and prepare for the worst-case scenarios.

And with that said, if you do not execute a power of attorney document on time, one of your loved ones may feel inclined to step forward and file a guardianship petition with the New York State court. Now, the different types of guardianship are as follows:

  • Guardianship of the person: this is for the power to make personal health decisions on your behalf.
  • Guardianship of the property: this is for the power to make financial decisions on your behalf.
  • Guardianship of the person and property: this is for power of health/financial decisions on your behalf.
  • Guardianship ad litem: this is for the power to represent you and protect your rights in a court case.

Regardless, it may be preferable to set up power of attorney arrangements in your estate plan than having one of your loved ones undergo this lengthy, costly, and emotional legal procedure. This is because you may also make them vulnerable to opposition from your other family members, causing further stress.

We can sympathize with how daunting this whole legal process may be for you. Well, lucky for you, the team at the Law Office of Andres D. Gil, PLLC, has successfully gone through this countless times before. So please, retain the services of a skilled estate planning attorney in Putnam County today.