(856) 439-6223A power of attorney (POA) is a document in which you can name a person to act on your behalf when you cannot make a financial or medical decision on your own. From health care choices to the disposition of real estate and other financial matters, it can be essential to your last desires or even vital to ensuring your medical wishes are respected while you are alive but debilitated. Granting a power of attorney is crucial in protecting your interests and ensuring your affairs are managed according to your wishes.
If you are ever incapacitated or disabled, having a reliable person make financial and medical decisions on your behalf can be invaluable. At Nesevich Law, we understand the complexities and emotions involved in your decision. If you are thinking about granting power of attorney in Manalapan Township, trust a knowledgeable power of attorney lawyer to advise you and stick by your side throughout the process.
Basic Information to Know
POAs allow someone to act on your behalf in certain situations. The person who grants the POA is the principal, and the person who is given the authority to decide for them is the agent. For it to be valid, the principal must be aware of its content and nature when they sign. Without one, you and your family will be involved in a court proceeding known as an interdiction (or guardianship or conservatorship in other states). There are several different types of powers of attorney, which are:
- Financial grants the agent authority to handle monetary matters. This can include managing bank accounts, paying bills, filing taxes, and handling investments.
- Medical allows someone to make medical decisions for the debilitated person.
- Durable remains in effect if the person later becomes mentally incapacitated.
- Special or limited grants authority to the agent to act on behalf of the principal in specific matters or for a particular purpose.
- General grants broad authority to the agent to act in a wide range of matters like financial transactions, business operations, and legal choices, but not healthcare
- Springing becomes effective only under certain conditions, and typically when the principal becomes incapacitated, and allows the principal to retain control over their affairs until they are no longer able to do so
The law does not delegate legal decision-making to a spouse or child without a written power of attorney, guardianship, or conservatorship. Each type of POA in Manalapan Township has its own specific requirements, so it is important to choose the right lawyer based on your individual needs and circumstances.
What to Know About Local Laws
Granting power of attorney (POA) involves specific legal considerations and requirements. To be properly executed, it must be in writing. The principal must sign the document, and a notary public must acknowledge the signature. The state does not have a statutory form for a POA, but the document should clearly outline the powers granted and any limitations. It is helpful but not legally required to have it signed by two witnesses who can speak to the sound mind of the principal at the time of signing. They can revoke it at any time if they are competent or of sound mind. Their revocation should be in writing and communicated to the agent and any relevant third parties.
Banks, financial institutions, and other entities may have specific requirements for accepting a POA, such as additional forms or certifications. A lawyer in Manalapan Township could ensure all necessary paperwork is completed and filed correctly.
Trust Us to Help You With Granting Power of Attorney in Manalapan Township
Figuring out who you can delegate major decisions to can be stressful and risky. How do you know you are choosing the right person? Planning your estate is a necessary step to protect your family and assets.
At Nesevich Law, we can provide step-by-step legal guidance to help you ensure proper order when granting power of attorney in Manalapan Township. Reach out today to schedule a consultation.