Why Should I Have a Power of Attorney?

In short, a power of attorney is a legal contract in which you authorize an agent to make decisions on your behalf. Just think about how many decisions you make for yourself in a single day; whether they are seemingly big or small, they all have an important value in your life. For this reason alone, we often recommend our clients to create one or more powers of attorney. That said, please follow along to find out why you should have at least one power of attorney document in your estate plan and how a proficient Putnam County power of attorney lawyer at the Law Office of Andres D. Gil, PLLC can help you do so effective immediately.

What are the different powers of attorney?

The type of power of attorney you select may depend on the level of authority you wish to give to your agent, along with what kinds of decisions you would like for them to make. On the one hand, a general power of attorney allows your agent to make decisions about anything on your behalf, up until you become mentally incapacitated. For this, you may want your agent to make business decisions for you while you are away on vacation, as an example.

But on the other hand, a durable power of attorney may grant your agent this power from the moment you sign it, in the event that you become mentally incapacitated, and generally speaking, throughout the rest of your lifetime. This is unless, of course, you take actions to revoke it when you are still mentally sound. You may prefer this path for a low maintenance, inexpensive alternative.

If you want to get more specific, though, there is the springing power of attorney. This has your agent step in if and when a certain event happens, such as if you enter a catastrophic accident that leaves you physically and mentally limited from expressing your wishes and decisions on your own. Even more detailed than this is the medical power of attorney. This allows you to give your agent instructions exclusively on healthcare decisions, such as whether you consent or refuse certain treatments or life-sustaining care.

Why should I have at least one power of attorney?

Simply put, without at least one power of attorney in place, the New York State court may be left with no choice but to step in and appoint an agent on your behalf, should you enter a situation or physical state where this is deemed necessary and immediate. They may name them as your conservator or guardian. And while the court typically names a close family member, this may still not be the exact individual you had in mind. Or, the most ideal individual to take on this weighty responsibility.

To conclude, if you require additional consulting, look no further than a talented estate planning attorney in Putnam County, from the Law Office of Andres D. Gil, PLLC. Schedule your initial consultation with us today.