With a power of attorney document, you are giving another person, known as an agent or attorney in fact, the power to make decisions on your behalf should you become incapacitated. This person has the right to complete any legal act as outlined by the document.
As you move forward with the estate planning process, you will eventually consider the benefits of creating a power of attorney. At that point, you have to learn more about the finer details, while also making key decisions, such as who you are going to name as your attorney in fact.
Hire a Las Vegas Attorney
Some people believe they can create a power of attorney document on their own, but soon find out that there are too many details in order to do so in the appropriate manner.
To protect against mistakes and ensure that your power of attorney document is 100 percent legal, you should hire an estate planning attorney early in the process.
Not only can an attorney help you create a power of attorney document, but they can answer your questions related to this, as well as other areas of estate planning.
Three Frequently Asked Questions
If you are unsure of what a power of attorney document can do for you and your loved ones, you are in the same position as many others.
Here are three questions that often arise when discussing power of attorney in Las Vegas:
1. Why is a power of attorney so important?
Some believe they can live without one of these documents in place. While there is no legal requirement to have a power of attorney, overlooking the importance of this legal solution can be a big mistake.
With a power of attorney, you are giving another party the ability to handle your affairs and make decisions should you become incapacitated. In addition to your own peace of mind, this will make life easier on your family should you become disabled down the road.
2. Are all power of attorney documents the same?
This is something that many believe, but you need to take the time to learn more about the different options.
For many, a durable power of attorney is the best option, as it becomes active when you sign it and remains active until you pass on or cancel it.
A springing power of attorney activates when a specific event occurs, such as you becoming incapacitated. It is important for a qualified attorney to draft this document, as it must be clear to ensure that there are no challenges determining when the “springing” act occurred.
3. Are there any risks of creating a power of attorney?
Generally speaking, the answer is no. That being said, there is one risk that you need to be aware of: if you choose the wrong agent, he or she may abuse the power given to them. You need to be careful of who you select as your agent, as this person is trusted to make the right decisions on your behalf.
These are three of the most frequently asked questions regarding a power of attorney in Las Vegas, however, there are many others that may come to mind as you think about creating this document.
If you’re interested in creating a power of attorney or editing the document you currently have in place, it’s very important that you consult with a qualified Las Vegas estate planning attorney. For a free consultation with a member of the Pintar Albiston team, just fill out the simple form to the right or call (702) 685-5255 today.