Minimize Conflict. Get Peace Of Mind. Create A Power Of Attorney.
A power of attorney is a document that gives one or more people the authority to make decisions for you in the event that you are incapable of doing so. That decision-making power can be very broad or very restricted, as defined by the specific terms of the document.
At The Law Office of Morrison & McGrew, P.A., we frequently draft powers of attorney for our clients. These documents can reduce legal costs by sparing family members from the burden of having to seek court approval if you are unable to make financial or health care decisions.
Powers Of Attorney That Are Right For You
Powers of attorney cover two major areas of decision-making:
- Financial power of attorney — the ability to make financial decisions, make transactions and enter into contracts, as defined in the document
- Health care power of attorney — the ability to make decisions regarding medical treatment
While beneficial, financial and health care powers of attorney must be specifically tailored to your situation to avoid placing too much or too little authority in the hands of your agents. You have the ability to strictly define what powers your trusted agents will have. Contact us to learn more about powers of attorney and the role they can play in your overall estate plan.
An Alternative To A Guardianship Or Trust
A financial power of attorney can serve as an economical alternative to a guardianship or trust. The agent who is given the power to transfer assets and engage in transactions must be a person who can be trusted with the immense power that a POA confers. Often this is a family member, but it certainly does not have to be. Some people choose to have an institution be their financial power of attorney, for example.
A special power of attorney can be created for a set period of time to accomplish a very specific task. Let’s say your house is up for sale but you are traveling overseas. You can appoint a person who can legally accept an offer and sign the closing documents. In a free consultation, a lawyer at our firm can discuss your needs.
Health Care Power Of Attorney
It is important to appoint a person who can make decisions about health care or end-of-life medical treatment if you are unable to do so. The Law Office of Morrison & McGrew, P.A., can help you create a health care power of attorney or living will that can spare your family the agony of making these decisions.
Free Consultation With A Lawyer
We have offices in Frederick , Maryland, to serve you. Evening, weekend and off-site appointments are available upon request. Free parking is available.