Types of Power of Attorney for the LGBT Community in Corpus Christi
Most people have heard the term “power of attorney”, but how many people actually know what it means? The term is thrown around an awful lot. Some people confuse it with executor or administrator of an estate. Other people confuse it with the person in charge of your living will. For members of the LGBT community in Corpus Christi, it’s important to understand the different types of power of attorney available.
When someone says they have power of attorney over someone, it sounds like a big deal. And, it can be. However, most people don’t need a power of attorney until they’re elderly or very ill. Or, they rely on a limited power of attorney that doesn’t last very long. It also doesn’t give the person as much power as you may think.
What you should do is meet with an experienced LGBT probate lawyer in Corpus Christi. They can explain the different types of power of attorney in detail. Here, we’ll just give a brief overview of the four (4) main types. We’ll also discuss when you may need to use one or the other.
Your Corpus Christi LGBT Probate Lawyer May Recommend a Limited POA
A limited POA, or limited power of attorney, is more common than you may think. People can use this document for all sorts of purposes. For example, if you’re going to be out of town but are supposed to close on a real estate purpose, you may need a limited POA.
This document gives the person named power to conduct affairs on your behalf for a limited purpose and a limited time. The document will spell out exactly what these purposes are. Your LGBT probate lawyer in Corpus Christi will also make sure you specify when the limited power of attorney ends.
These documents are easily revocable. You can rescind them at any time up until and during the event it’s intended for. Your probate attorney can help you do this if need be.
Your LGBT Probate Lawyer Can Carefully Draft Your General Power of Attorney
You want to think really hard before you draft a general power of attorney. This document gives the person control over a lot more than you might think. In fact, it gives them the same powers and rights you would have had you not signed the POA.
Some of the things a person with General POA are allowed to do include:
- Pay bills
- Manage your financial affairs
- Make medical decisions on your behalf
- Sign documents
- Conduct financial transactions
As you can see, a general power of attorney effectively turns your entire life over to someone else. You don’t have to be incapacitated or mentally incompetent for this document to become effective.
A general power of attorney ends either upon your death, or when you are no longer incapacitated and choose to rescind it.
When Would You Need a Durable Power of Attorney?
A durable POA is a powerful document. It can be either general or limited. It will remain in effect for as long as you’re incapacitated, or until your death, whichever comes first.
It’s a good idea to draft one of these if you’re sick or elderly. Without a durable power of attorney, the court would have to appoint a guardian or conservator to manage your affairs. This could be anyone – even someone you would not want to make decisions on your behalf.
The only way to rescind a durable power of attorney is to be confirmed or declared legally competent. Then you would have to do so in writing. Otherwise, it will remain in effect until you die.
Ask Your Corpus Christi LGBT Probate Lawyer About a Springing POA
A springing POA is just like a durable POA. The only difference is that it doesn’t become effective until you’re incapacitated. It’s really important that the document spell out precisely what defines your incapacitation.
This is why you should consult with an experienced LGBT probate lawyer at Eddington & Worley before you sign or draft anything. Let them know what your goals are. Let them know what your concerns are.
Your lawyer can answer any questions you may have. They can also make sure the document you draft meets all of your needs. You don’t want to become incapacitated and have nothing in place. At least with a power of attorney, you can choose the person to dictate your affairs.
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