Use Powers Of Attorney To Transfer Decision-Making Authority
Powers of attorney are documents that convey legal authority for one person or organization (agent) to act in the name of another person when making decisions. These documents can be highly useful for individuals and business owners. If an illness, chaotic schedule, extensive travel or other circumstances make it difficult for you to make informed decisions about issues that affect your life, you can grant a power of attorney to someone you trust so they can act on your behalf.
At Morse Busby Andrews & Terry LLP, we guide clients in Washington through the process of authorizing an agent, and we carefully draft powers of attorney that meet our clients’ specific needs.
Drafting Powers Of Attorney That Protect Your Interests
Granting a power of attorney to a trusted agent can ensure that important matters are handled carefully when you cannot tend to them yourself. Generally speaking, powers of attorney address three main areas of concern:
You may grant someone a power of attorney to manage your bills, taxes, stocks, royalties or other financial assets. Handing authority to a trusted individual can give you a sense of security when times are difficult. Older adults who are forgetful or susceptible to scams can also benefit from a loved one overseeing their bank accounts and other financial concerns.
Legal And Business Matters
Even if you are not planning to step away from the day-to-day management of your business or legal matters, executing a power of attorney is a prudent contingency plan. An agent can also be given the right to act as your power of attorney during real estate deals and other transactions.
When a medical crisis strikes, loved ones are often unsure about the extent of lifesaving treatment the injured or ill person would want. Every adult should have an advance directive that clearly specifies their wishes for medical care and grants decision-making authority to a person of their choosing.
The skilled attorneys at Morse Busby Andrews & Terry LLP work to prepare documents that address each client’s specific needs and concerns.
Experienced Estate Planners Advise On Limited Vs. General Transfers
A power of attorney can grant broad authority or be limited in scope. While a limited power of attorney can give an agent authority to act in your stead for only a very specific period of time or to fulfill a specific task, a general power of attorney can transfer all of your authority to another party.
Our knowledgeable lawyers draft all types of powers of attorney. We can collaborate closely with you and your chosen agent(s) to evaluate each area where a power of attorney is advisable.
Contact Skilled Estate Planning Lawyers For Powers Of Attorney
A carefully drafted power of attorney can give you and your loved ones or business partners greater peace of mind in the event that you are unable to make decisions for yourself. Call Morse Busby Andrews & Terry LLP at 855-960-6065 or contact us online to schedule a consultation on powers of attorney, a will, a trust or any aspect of estate planning or probate at our Vancouver, Washington, office or remotely.