Austin Probate Lawyers

Granting Power of Attorney - Two Main Types of Agents

Assigning Power of Attorney is important because you might not be able to make important financial decisions all the time. No one is immune from aging or from the loss of mental clarity that often comes with aging. Also, people are not immune to health crises that may leave them unable to handle the day to day business of life like paying bills. It is for these reasons, as well as many others, that assigning power of attorney is important.

Granting someone power of attorney makes them your agent. They can manage your financial affairs if you are unable to do so. An agent is legally capable of signing your name to documents and is also obligated to act in your financial best interest all the time as well as keep your general interests in mind. For these reasons, it is important to appoint someone you trust to be your agent.

There are many different types of power of attorney, but, for our purpose in estate law, there are two main types. The first type is the springing power of attorney. This type of agent only goes into effect when certain circumstances, that you name, occur. The most common prerequisite is that you become incapacitated. This often means that your agent cannot take control until producing letters from doctors. Even then, the court may still order you to prove that you are incapacitated.

The second type is the durable power of attorney. This type is effective immediately and your agent does not need to prove your incapacity to start making decisions or sign your name. An attorney will help you determine which type of agent is best.

Living wills, like any other type of will are fully customizable to your needs and desires. An Austin probate lawyer can help you to determine exactly what you want and in what situations that it would apply. They will also be able to help you think of situations that you may never have thought that you may encounter. You may wish to specify that if you are in a situation where there is absolutely no hope of a recovery, that the doctors issue a do not resuscitate order (DNR). In contrast, if there is a situation that would allow for recovery, you may wish to indicate that you do want to be on life support until the condition improves or for a specified amount of time. With a living will, there is no right or wrong answer.

It is not easy to think that you may ever end up in a situation that would involve your loved ones needing to make these difficult decisions. With a little luck, you may never find yourself in this situation at all. Having the comfort and peace of mind that comes with creating a living will with an Austin probate lawyer, though, is enough reason to have one in place. Then, should something happen where you do need such a thing, your family can rest easy knowing that they did exactly as you would have wanted without second guessing themselves. And you can be sure that your family will feel good about the decisions that were made.