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Probate & Estate Planning

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What is a power of attorney?

According to Virginia Law, a power of attorney is a legal document that grants one person authority over another in order to act on their behalf. The two people involved are referred to as the 'principal' and the 'agent,' or the 'attorney-in-fact.' The principal is the one authorizing the agent to act on their behalf. With this, the agent then makes decisions regarding the principal's personal life all the way to their health care. In order for the process to become official, the principal is responsible for understanding the entirety of the power of attorney as well as the concerns that involved for signing it. Once the written document is signed, it becomes effective.

When signing a power of attorney in Virginia, you should be aware that there are various forms in the matter. First off, there is a general power of attorney. This document authorizes the agent to make almost all your decisions for you. A limited power of attorney is given authority over certain decisions. These limitations are discussed in the written document. A durable power of attorney allows the agent to continue with their duties once the principal becomes ill and mentally incapacitated. In regards to a springing power of attorney, the agent is there to step in during the time specified on the written document. To understand more about the different forms of POA, talk to a Manassas estate planning attorney about your options.

Why should you consider signing a power of attorney?

As an individual, you may wonder why others would consider this option. You may want to appoint someone to take care of any financial affairs if you are unable to do so yourself. An example of this would be someone that takes over your investments for you or is there to take care of your tax returns. If you were to become sick and mentally incapacitated, wouldn't you want to appoint someone you trust to take over your affairs? With a power of attorney, you are in control and have the freedom to choose your agent. Without choosing a trusted individual, the court then takes control of deciding this for you. This can be an extensive process of court fees and court dates, with the end result of them choosing someone that does not have your best interest at heart. In order to avoid this painstaking process, contact my office, Morisi Associates, PLLC, and let me help guide you through the legal steps!

Morisi Associates, PLLC - Manassas Estate Planning Attorney
Located at 9200 Church St
Suite 202

Manassas VA 20110
Phone: (703) 468-8031
Website:
Probate.com

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.

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