Semmes, AL Power Of Attorney Lawyers
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Many people don’t realize how vital it is to have a legal tool like this in their pocket for a rainy day…until it’s too late. It is in your best interest to have power of attorney and not need it, rather than not have it and need it one day down the road. Our skilled Semmes power of attorney lawyers make the process easy for you and your family, so that you can have peace of mind for the future. Call today to learn more about how you can schedule a free phone consultation and get your questions about power of attorney answered!
Types Of Power Of Attorney
Our attentive Semmes power of attorney lawyers can help you navigate a variety of types of power of attorney, including…
The term “durable” means that the authority granted to the agent continues, even if the principal (creator) becomes incapacitated. Durable POA can be used for financial and legal matters, such as managing bank accounts, paying bills, or making medical decisions.
On the other hand, non-durable POA becomes invalid if the principal becomes incapacitated or unable to make decisions. This type of POA is often used for specific, short-term situations, such as when the principal is unavailable or wants assistance for a limited time. With this type of POA, it is essential to clearly define the scope and duration of the agent’s authority, and make it clear that when the specified conditions are met or the timeframe expires, the document becomes void.
This type of POA may also be referred to as healthcare proxy, and allows the agent to make medical decisions (such as treatments, procedures, and end-of-life care) on behalf of the principal if they become unable to. It’s crucial that whoever you choose to serve as your agent with this type of POA is aware of your wishes, values, and preferences.
A general POA gives broad powers to the agent to act on financial, business, real estate, and legal matters on behalf of the principal. This POA is limited only by the terms set out in the POA or by any relevant state statute. It becomes effective immediately upon signing unless otherwise specified, and remains in effect until the principal revokes it, becomes incapacitated, or passes away.
Limited (Special) POA
A limited (Special) POA allows the agent to act for a specific purpose and once that purpose is accomplished, the POA expires.
This document allows the agent to perform various financial tasks on behalf of the principal, such as handling bank transactions, paying bills, managing investments, and making decisions related to property and assets; and can be broad or specific in scope, depending on the wishes of the principal.
This type takes effect if/when a certain event or medical condition occurs as specified in the document, and ends at a specified time as outlined in the document, or if/when you become incapacitated or die.
Why Choose Our Semmes Power Of Attorney Lawyers
We know that questions may be your biggest roadblock to taking this critical step, which is why you can depend on our team to give you as much information as you need to feel confident moving forward! Even if you already have a power of attorney, Alabama’s laws got a complete overhaul in 2012, and it’s likely that your existing document will need to be brought up to date! Call our firm today to get started!
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Semmes, AL Practice Areas
The Ladd Firm is an asset for individuals who need assistance with estate planning. They are truly concerned with what is best for their clients and take the time to understand the situation and tailor the options for the best outcome.
The Ladd legal firm is a very personal and professional legal firm. The service we received was complete and their patience with explaining the process of establishing a family trust made us completely comfortable. We are amazingly comfortable recommending them to anyone wishing to set-up a family trust.
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