Set Up a Power of Attorney with Help from Our Oklahoma City Lawyers
OUR DEDICATED LEGAL TEAM CAN PROVIDE THE GUIDANCE YOU NEED
Age catches up with all of us, but when people suffering senior moments start missing important details, serious consequences can ensue. For example, you might forget to pay bills or taxes and face potential fees and penalties. Fortunately, with a sound power of attorney document, you can delegate necessary tasks to a trusted individual. At Zuhdi & Flynn, PLLC, our estate planning attorneys understand senior issues. We design and draft personalized power of attorney documents to address your specific concerns. We consider a wide range of contingencies, so you are thoroughly protected against foreseeable future events.
WHAT IS A POWER OF ATTORNEY?
A power of attorney is a legal document that allows someone, known as the principal, to transfer legal authority to act on particular issues to someone else, known as the agent. When you discuss your concerns with an estate planning attorney at our firm, you can determine in what areas you might require assistance. These legal instruments can transfer control over personal finances, healthcare decisions, or business and property management. We can tailor a power of attorney as narrowly or as broadly as you desire. Options you can consider include:
- Healthcare power of attorney — This document transfers decision-making authority to someone you trust in the area of healthcare. If you have a chronic condition or are facing a sudden medical crisis, you can appoint someone you trust to be your point person with the treating physicians. Having an agent for your healthcare can help you maintain your energy and relieve the psychological pressure while you focus on recovering your health.
- Financial power of attorney — This document allows you to appoint an agent to pay your bills, file your taxes, manage your investments and engage in real estate transactions. If you feel like downsizing, your agent can sell personal property, vehicles, or other items. If you want to move to a retirement community, your agent can handle the sale of your home and the contract for your new residence. How much power the agent has is entirely up to you.
A traditional power of attorney is limited, in that it’s only good for as long as the principal has the legal capacity to act. The power terminates if and when the principal becomes incapacitated. The agent would then have to go to court and petition for guardianship of the principal. By contrast, durable power of attorney documents offer more wide-ranging protection, because they remain in effect when a principal is incapacitated.
POWERS OF ATTORNEY AS INCAPACITY PLANNING
Suppose you are still sharp as a tack and fully in control. Should you still have a power of attorney? Absolutely, because all it takes is one tragic accident to change everything. If you find yourself suddenly incapacitated, don’t you want someone you trust to have the power to act for your benefit?
This is where a “springing” power of attorney comes into play. You execute this type of document as a kind of insurance policy. You inform your intended agent and give him or her a copy of the document. That way, if anything ever happens to you, the legal power “springs” into effect, and your agent can act for your welfare with full authority.
Contact our Oklahoma City legal team for a power of attorney
The knowledgeable estate planning attorneys at Zuhdi & Flynn, PLLC provide personalized service for clients seeking powers of attorney in and around Oklahoma City. To schedule a consultation, call 405-416-2711 or contact us online.