What is a power of attorney?A power of attorney is a way for people to designate an individual who will make important financial and medical decisions on their behalf when an event such as sickness or disability occurs.
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What a Financial Power of Attorney Allows You To Do: A general financial power of attorney allows you to choose an agent to make financial decisions for you if you become unable to do so. A power of attorney that takes effect when you become unable to make decisions for yourself or incapacitated is called a durable power of attorney. A durable power of attorney is helpful for not only financial decisions but medical treatment matters as well.
Types of Finances: A financial power of attorney involves different areas of finances and you have the ability to choose which areas your agent has authority over. Examples of the different areas of finances your agent may or may not have control over includes: bank accounts, stocks, bonds, real property, personal property, taxes, insurance policies, and social security benefits.
Creating a Power of Attorney: A power of attorney is created by signing a legal document through a process similar to executing or signing a will. A power of attorney can be limited in the activities it allows an agent to perform and can also terminate early.
At A. Bishop Law, our Georgia Probate Attorney welcomes anyone with any Georgia Will, Estate or Probate questions to Call or Email us today. Please remember that all initial consultations are free of charge. For more information on our Georgia estate planning packages, including a simple will, health care directive and Georgia power of attorney, please contact our office today at 770-783-5296.
A legal Financial Power of Attorney is an important estate planning document.
About the attorney: Anne Bishop is a North Georgia Lawyer with A. Bishop Law and handles matters regarding Wills, Estate Planning and Georgia Probate and can assist clients throughout Northeast Georgia including: Hall County (Gainesville, Oakwood, Flowery Branch), White County (Cleveland), Lumpkin County (Dahlonega), Habersham County (Demorest, Cornelia), and all counties surrounding Northeast Georgia.
This article and video should not be considered nor relied upon as legal advice since it is only intended for general overview and informational purposes. Please consult with a Georgia Probate Attorney on your specific situation in order to determine an appropriate legal course of action.