A Brief Guide to Powers of Attorney

What will happen if something befalls you and you are no longer able to manage your affairs on your own? Powers of attorney are documents through which you can appoint another person (or an organization) to manage your affairs on your behalf. They give you the chance to plan for both expected incapacitations, like a long trip abroad, and unexpected ones, like an injury or sickness. There are different types of powers of attorney that can be used for different purposes. Read on to learn more about them!

General Powers of Attorney

General powers of attorney grant the broadest agency. The person you appoint general power of attorney will be able to represent you in purchasing life insurance, employing professional assistance, and more. They can settle claims against yow. They can handle your financial and business transactions, as well as general operations of your business interests. 

Special Powers of Attorney

Don’t want one person to have all that power over your affairs? With special powers of attorney, you can pick and choose the powers you grant. Maybe you just need someone to represent you at a real estate sale. You can make that happen with a special power of attorney.

Healthcare Powers of Attorney

With a healthcare power of attorney, you can grant someone you trust the ability to make medical and end of life decisions on your behalf if you cannot express your wishes on your own. 

Durable Powers of Attorney

The types of power of attorney listed above become invalid any time you become mentally incapacitated. They are generally more useful in emergency and end-of-life scenarios if they are also durable powers of attorney. Adding language to make a power of attorney durable means that the document ends not when you become mentally incapacitated, but instead only when you pass away. 

Who can help me incorporate powers of attorney into my plan?

If you need to create a power of attorney, contact Goodwin Law and Mediation today. We have the knowledge and experience to help you with this and other matters related to estate planning. We understand the importance of protecting your interests as you move through all the different stages of life. We work on a flat fee basis, giving you the freedom to ask as many questions as you need without incurring extra legal fees. We can’t wait to partner with you, so give us a call at (919) 798-4468.

The following two tabs change content below.

Goodwin Law & Mediation

At Goodwin Law & Mediation, we strive to fill an important niche in North Carolina legal services. Attorney Raymond Goodwin has a significant body of legal experience and a wealth of knowledge that he brings to the table to develop personalized solutions for a range of legal issues.

Latest posts by Goodwin Law & Mediation (see all)

%d bloggers like this: