Power of Attorney Lawyer in Oxnard, CA Solidifying Your Estate Plan
No one knows when their time will come, and it’s important to be as prepared as possible for the unexpected. One way to do this is by creating a power of attorney document. This gives someone you trust the legal authority to make decisions on your behalf in the event that you become incapacitated and can’t make them yourself. It’s important to choose someone you trust wholeheartedly, as they will be making very important decisions on your behalf.
Another thing to keep in mind is how you would like your loved ones to handle your estate in the event of your death. This can be a difficult conversation, but it’s important to have it so that everyone is on the same page. You may want specific items to go to certain people, or you may prefer a more general distribution. Whatever you decide, make sure your loved ones are aware of your wishes and know where to find your will and other estate planning documents.
Powers of attorney are an important part of any estate plan. I can help you develop a comprehensive plan that will protect you and your loved ones. Call the Law Offices of Eric Ridley today at (805) 244-5291 for a free initial strategy session and get the help you deserve.
What is a Power of Attorney?
A Power of Attorney (POA) is a legal document that allows you to appoint someone else, known as your “attorney-in-fact” or “agent,” to act on your behalf. Your agent can have various levels of authority, from handling routine financial matters to making major life decisions on your behalf.
You may need to give someone Power of Attorney if you become incapacitated and are unable to make decisions for yourself. A POA can also be useful in managing your affairs if you are going to be out of the country for an extended period of time.
There are two main types of Powers of Attorney: durable and non-durable. Durable Powers of Attorney remain in effect if you become incapacitated, while non-durable Powers of Attorney end if you become incapacitated.
You can give someone Power of Attorney for a specific task or for all legal and financial matters. You can also revoke a Power of Attorney at any time as long as you are still competent to make your own decisions.
What are the Types of Powers of Attorney?
There are various types of powers of attorney. Some of the most common powers of attorney implemented into estate plans include:
General Power of Attorney
A general power of attorney gives the agent broad authority to handle most legal and financial matters on the principal’s behalf.
Special or Limited Power of Attorney
Special or limited powers of attorney grant the agent more limited authority than a general power of attorney. For example, a special power of attorney may only authorize the agent to sell a specific piece of property owned by the principal.
Durable Power of Attorney
A durable power of attorney is one that remains in effect even if the principal becomes incapacitated and can no longer make decisions for him or herself.
Springing Power of Attorney
A springing power of attorney only takes effect under specific circumstances, such as when the principal becomes incapacitated.
No matter what type of POA you choose, it’s important to select someone you trust implicitly to act on your behalf. This person will have a great deal of power and responsibility, so you need to be sure they are up to the task.
What Does an Agent Do?
The agent’s authority is defined by the terms of the Power of Attorney document. In general, an agent can do any legal or financial tasks that the principal could do him or herself if he or she were available and competent. This may include signing documents, making financial decisions, and even selling property on the principal’s behalf.
The agent must always act in the best interests of the principal and must keep accurate records of all transactions made on the principal’s behalf. The agent is also required to provide regular updates to the principal, or to someone else designated by the principal, about what actions have been taken.
Why Should I Hire a Power of Attorney Lawyer?
There are many reasons why you might need to hire a power of attorney lawyer. Perhaps you need help drafting a power of attorney document. Regardless of the reason, it’s important to make sure that you hire a lawyer who is experienced in handling these types of cases.
A power of attorney lawyer in Oxnard can be extremely helpful in planning for your future. I can help ensure that the document is properly drafted and that it meets all the legal requirements. I can also help you navigate the complex legal process involved in challenging a power of attorney.
Accuracy is key when it comes to powers of attorney. An invalid power of attorney document can be costly when the time comes. I will make sure your document is valid when you need it the most.
Contact the Law Office of Eric Ridley Today for Compassionate and Helpful Service
I’ve helped many people draft and execute powers of attorney. I understand how important it is to have someone you trust to make decisions on your behalf. Contact my office today for a free consultation. I would be more than happy to sit down with you and discuss your options. Call the Law Offices of Eric Ridley today at (805) 244-5291 for a free initial strategy session and get the help you deserve.