While a power of attorney gives another person the authority to act and make decisions on your behalf. There are different types of powers of attorney in North Carolina that you should know about if you’re looking to establish this type of authority in Wake Forest. Our estate planning attorney has experience with elder care and estate planning, and is able to assist you today.
What is a Durable Power of Attorney?
When a Durable Power of Attorney is drafted and executed, it allows a person to appoint someone else to act for them in many circumstances. If a power of attorney is durable, it remains valid even if the person becomes incapacitated and unable to make decisions for themselves. When a power of attorney document is not durable, it ends if you become incapacitated.
Types of Durable Power of Attorney in North Carolina
There are two types of durable power of attorney in North Carolina, financial and health care.
Health Care Power of Attorney
A durable power of attorney for health care allows someone to make medical decisions if you can’t speak for yourself. They can do the following:
- Request and review medical records
- Choose and discharge doctors and other health care providers
- Authorize admission to health care facilities
- Admit to a mental health facility
As the name suggests, a financial durable power of attorney makes decisions about money.
Their powers can include:
- Using your assets to pay your expenses
- Buying, selling, maintaining, and paying taxes on property
- Collecting Social Security, Medicare, and other benefits
- Investing your money
- Filing and paying taxes
Because of the powers that come along with the power of attorney responsibilities, it’s important to choose someone who you completely trust.
What are the Benefits of a Durable Power of Attorney?
When you have a durable power of attorney in place in Wake Forest, there are several benefits. These include:
Avoid Court Proceedings
If a person becomes disabled or unable to make decisions to handle their affairs, a court proceeding known as a Guardianship is required so that a guardian can be appointed. This can be expensive and can become a complicated ordeal. Having a Durable Power of Attorney in place can prevent this from happening.
Takes Care of Your Affairs for as Long as Needed
A Power of Attorney can allow a trusted person to handle your affairs for as long as needed, so there is no need to worry.
Act as an “Attorney in Fact” for Your Spouse
One spouse cannot legally sign the other spouse’s name on their behalf just because they’re married. But, if a Durable Power of Attorney is in place, one spouse can make the other their attorney in fact”, so if the need arose, business and legal affairs can proceed as usual.
Gives You Peace of Mind
Knowing you have a durable power of attorney in place can give you peace of mind that you have someone your trust to handle your affairs if you become incapacitated to do so.
While you can try to fill out the paperwork yourself to establish a durable power of attorney, it can become confusing. When you hire an attorney in Wake Forest to take care of these legal documents, you can have the peace of mind of knowing it has been done correctly. Call us at (919) 228-4487 today.
FAQs About Durable Power of Attorney in North Carolina
Can My Financial Power of Attorney Make Decisions about My Healthcare?
No. A financial power of attorney does not have the authority to make decisions about your health. But, your financial power of attorney should cooperate with the person who has the authority to make health care decisions on your behalf.
How Can I Revoke a Power of Attorney?
There may come a time when you want to revoke your agent’s power of attorney or indicate specific conditions. If your spouse is your power of attorney and then you get divorced, the power of attorney will be terminated unless the document states otherwise.
The guardian of your estate can also terminate the power of attorney. If your power of attorney has been recorded in the register of deeds office, you can file an instrument of revocation with that office to terminate the power of attorney.
Do You Need an Attorney to Get a Durable Power of Attorney?
While you can try to fill out the paperwork yourself to establish a durable power of attorney, it can become confusing. When you hire an attorney in Wake Forest to take care of these legal documents, you can have the peace of mind of knowing it has been done correctly.