Everett Power Of Attorney Lawyers
Power of Attorney Lawyer Serving Everett
When it comes to life’s most important decisions, it pays to plan ahead. One way to do so is through a Power Of Attorney, a legal instrument that empowers someone you trust to act on your behalf when you are no longer able to manage your legal, financial, or medical affairs yourself. The outcomes of such sensitive decisions are not something you should leave to chance, though, which is why it’s critical that you entrust the drafting of your Power Of Attorney to a seasoned legal professional.
ELG Estate Planning is a region-leading law firm that focuses exclusively on estate planning and elder law in Washington State, a concentration that helps us offer practical, innovative legal solutions in these practice areas. We have helped thousands of clients protect their rights and interests through careful estate planning incorporating powers of attorney, and we’d like to do the same for you. Contact us today for an initial case evaluation with a Power Of Attorney lawyer serving Everett, WA, and let’s discuss the suitability of a POA for your estate plan.
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Understanding Powers of Attorney
A Power Of Attorney is a legal document under which an individual, called a principal, authorizes another person, called an agent, to make decisions or take actions on behalf of the principal. The principal can specifically define when the agent’s authority will go into effect and the scope of the agent’s authority. An agent’s authority under a POA ends when the principal becomes incapacitated—unless the principal has created a durable Power Of Attorney—or when the principal passes away. The principal may also give the agent instructions about when and how they may use their authority under the POA, which the agent must follow.
Types of Power of Attorney
Powers Of Attorney come in various types that determine when the POA goes into effect and the scope or duration of the agent’s authority. First, POAs may qualify as durable or non-durable. If the POA is not durable, it terminates when the principal loses the legal capacity to act themselves. Not a good idea! Instead, the principal should execute a durable Power Of Attorney through which the agent’s authority continues during the principal’s incapacity. Durable Powers Of Attorney are a critical part of incapacity planning by allowing people to empower trusted loved ones or advisors to act on their behalf should they become incapacitated.
A principal can also precisely define the scope of an agent’s authority in the POA. Some of the most common types of POAs include:
General Power Of Attorney: A general POA can include both financial and healthcare matters as a combined document. It authorizes an agent to act on the principal’s behalf in all situations allowed by state law, including legal, financial, medical, personal, and business decisions. Although a general POA can give an agent broad authority over the principal’s affairs, the law requires certain actions to be specifically authorized. The law also prohibits agents from taking specific actions on behalf of a principal, such as entering a marriage on the principal’s behalf or changing the principal’s will. Often Durable Powers Of Attorney are created separately for financial matters and health care.
Financial Power Of Attorney: A durable financial POA grants an agent the authority to manage the principal’s financial affairs. A principal can precisely define the actions the agent may take; typical examples of authority granted by a financial POA include paying the principal’s bills, making bank deposits and withdrawals, collecting the principal’s retirement or government benefits, filing the principal’s taxes, and selling the principal’s property like real estate or vehicles.
Medical Power Of Attorney: A medical or health care durable POA, authorizes a healthcare agent to make healthcare decisions for a principal. It is only when the principal becomes incapacitated and unable to communicate their decisions or wishes regarding healthcare that the healthcare agent begins to act on behalf of the principal. The scope of authority under a medical POA may allow an agent to make decisions regarding medical treatments, prescriptions, surgeries, end-of-life care, and the healthcare providers administering care to the principal.
Benefits of a Power of Attorney
Incorporating a Power Of Attorney into your estate plan can offer you and your family various benefits and advantages, such as:
Deciding who will make decisions for you if incapacitated: A Durable Power Of Attorney allows you to designate the person who will make medical, financial, and legal decisions for you if you become incapacitated. Without a Power Of Attorney, you will be subject to a court ordered guardianship or conservatorship to gain the authority to manage your affairs if you become incapacitated.
Defining the scope of authority: Powers Of Attorney also allow you to precisely define the scope of authority you want your agent to have or how you want them to exercise that authority. For example, you may want your healthcare agent to make certain healthcare decisions only when specific circumstances arise.
Avoiding family conflicts: Designating a trusted family member, friend, or advisor to serve as your agent under a POA can help eliminate conflicts among your family members over who should make decisions on your behalf and what decisions to make, as you can instruct your agent regarding your preferences or wishes.
Protecting assets in an emergency: A POA also means empowering a trusted loved one or advisor to handle asset protection planning, such as long-term care, incapacity, or Medicaid planning, should you unexpectedly suffer prolonged or permanent incapacity.
Potential Challenges with a Power of Attorney
Powers Of Attorney can also present certain challenges. First, a Power Of Attorney necessarily comes with the risk that an agent may abuse their position by enriching themselves at the principal’s expense. It’s important to choose only an agent in whom you have complete trust.
Incapacity can also cause challenges with POAs, especially when a principal designates their POA to go into effect only upon their incapacity, as healthcare professionals may disagree whether a principal has become incapacitated. Ambiguities in the POA can also raise questions regarding the agent’s scope of authority. As elder law attorneys, we recommend the durable Power Of Attorney take effect immediately upon signing, and not upon a decision of incapacity. Finally, some institutions may require extra verification of an agent’s authority before letting the agent act on behalf of the principal.
Contact Us Today to Discuss Your Legal Options
A Power Of Attorney can give you peace of mind, knowing that you have a trusted loved one or advisor ready to manage your legal, financial, or medical affairs should you lose the ability to manage your affairs. Contact ELG Estate Planning today for a confidential consultation with a knowledgeable estate planning lawyer serving Everett to learn more about Powers Of Attorney and discuss whether you should incorporate one into your comprehensive estate plan.
Our firm has three locations throughout Washington to serve your estate planning needs, but our office closest to Everett is in Seattle at 9725 3rd Ave. NE, Suite 600.
If you would like to speak to an estate planning lawyer serving Everett like to discuss your Powers Of Attorney or estate plan, contact our office today or send a message online.
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