Merced Lawyer for Powers of Attorney
California lawyer drafts and updates POA documents
Although we value autonomy over ourselves and our affairs, none of us knows when circumstances might arise that make it necessary to depend on another person. To best manage this possibility, we should take steps to determine who can exercise authority when we cannot act for ourselves. A Merced lawyer for powers of attorney can help ensure that someone trustworthy will step in when you need assistance most. At Curry and Curry, we help clients provide for such a contingency as part of their estate planning.
What is a power of attorney?
A power of attorney (POA) is a legal document by which one person (the principal) authorizes another (the agent or attorney-in-fact) to act on their behalf in financial, legal or personal matters in defined circumstances. A POA is critical for planning ahead, particularly for individuals who are aging or have health conditions placing them at risk of potential incapacity.
Types of powers of attorney
California law recognizes these types of POAs:
- General — This grants broad authority to the agent to handle various tasks, such as managing finances, signing contracts or selling property. Unless otherwise specified, it typically ends if the principal becomes incapacitated.
- Limited — This restricts the agent’s authority to specific tasks, such as selling a home or managing a single bank account. It expires after a set period or upon completion of the task.
- Durable — This type of POA remains effective even if the principal becomes incapacitated, making it ideal for long-term planning.
in California, an advance healthcare directive (sometimes called a living will) is a specialized POA that authorizes an agent to make medical decisions, including end-of-life care, when the principal cannot.
Advantages of having a power of attorney
A POA ensures that a trusted individual will manage your finances or healthcare decisions without the need for court intervention. A durable POA can prevent disruptions in financial obligations, like paying bills, if you become incapacitated. For families, a POA can reduce stress by streamlining decision-making during emergencies, avoiding the need for costly conservatorship proceedings. As part of a comprehensive estate plan, you should consider executing a POA tailored to your needs and objectives.
When does a power of attorney take effect?
In California, a POA takes effect in one of two ways. A springing POA activates upon the occurrence of a specified event, such as the principal’s incapacity, as verified by a physician or court. A non-springing POA takes effect immediately upon signing, allowing the agent to act right away, even if the principal is still capable.
Revoking or changing a power of attorney
A principal who is mentally competent can revoke or amend a POA at any time. To do so, the principal notifies the agent in writing and informs relevant institutions, such as banks, in order to prevent unauthorized actions. A principal can amend a POA by creating a new one or by executing a written amendment that meets with California’s notarization or witness requirements. An experienced POA attorney at our firm will ensure proper execution and adherence to state laws.
Contact our California estate planning attorneys to discuss powers of attorney
Curry and Curry in Merced assists clients by preparing powers of attorney for varied situations and purposes. To schedule a consultation, please call 209-720-3912 or contact us online.
