Power of Attorney in Fresno

Protecting Your Financial and Medical Decisions

In the event that you become ill or injured, your financial and medical decisions still have to be made. Without a power of attorney in place, no one can make those decisions for you – not even your spouse. If you’d like to give a loved one the power to handle your assets and make medical decisions when you are out of commission, a power of attorney is an excellent addition to your estate plan.

There are multiple kinds of powers of attorney to choose from, all with different benefits. Working with an experienced lawyer is the best way to create a valid power of attorney that includes your specific instructions. If you’re interested in creating a power of attorney, reach out to The Bains Law Office today. We can advise you on which document is best for you and how it suits your estate plan. For a consultation, call our law office today at 559-282-8924.

What is a Power of Attorney?

A power of attorney is a legal document that gives someone else the authority to make financial or medical decisions on your behalf. Essentially, that person can make the same decisions about your assets and medical care that you would, and their signature is as good as your signature. The person who creates a power of attorney is called the principal, and the person you assign to act for you is called your agent or your attorney in fact.

There are a few different types of powers of attorney, and you can choose the one that best fits your needs. The requirements for a power of attorney and their abilities vary from state to state.

Generally, your agent can do the following things:

• Conduct real estate transactions
• Speak with financial institutions
• Access your bank accounts
• Discuss business matters with your partners or co-owners
• Sign contracts
• Make healthcare decisions, like what kinds of medical treatment you do or do not consent to

In California, you can assign multiple agents to handle your affairs. Some people like this option if they want one person to control their finances and another person to control their medical wishes. If you aren’t sure whether you’d like a power of attorney, reach out to our team today for guidance.

Who Needs a Power of Attorney?

A power of attorney isn’t a requirement; in fact, for some people, it may not fit into their estate plan. However, if you own a business or a home, it might be a good idea to assign power to another person in case you are unable to make decisions on your own.

Here are some specific situations in which a power of attorney may be useful:

• You get into a motor vehicle accident that leaves you unconscious. Using a medical power of attorney, your agent can decide which medical treatments you should or should not have until you wake up again.
• You own a business and want to buy real estate across the country to expand. You’re unable to make the trip out, so you allow your power of attorney to handle the real estate transaction for you.

What Are the Main Types of Powers of Attorney?

There are multiple kinds of power of attorney you can choose from depending on your goals and your considerations for the future. Our team will examine your estate plan and learn more about your circumstances before making a recommendation for you.

Types of powers of attorney include:

General Power of Attorney

A general power of attorney allows your agent to make financial decisions on your behalf. It’s one of the most flexible options, as you can revoke the document or name a new agent at any time.

Limited Power of Attorney

A limited power of attorney gives your agent the power to act on your behalf under specific circumstances. For instance, you might allow your agent only to make decisions about your retirement accounts or sign contacts in your name when you are out of the country.

Medical Power of Attorney

If you’d only like to allow your agent to make medical decisions for you, then a medical power of attorney is right for you. This document limits your agent to making healthcare decisions if you are incapacitated. Many people choose this option if they’re worried about getting into an accident or have just been diagnosed with a terminal illness.

What Are the Requirements for a Power of Attorney?

The requirements for a power of attorney in California are relatively straightforward. Our team will ensure that your power of attorney meets these requirements and that it’s legally valid.

The requirements for a power of attorney include:

• The principal must be at least 18 years old
• The principal must have the mental capacity to establish a power of attorney
• The agent must be at least 18 years old
• The power of attorney document must be signed by two witnesses or in front of a notary

How Can a Lawyer Help Create a Power of Attorney?

A power of attorney document is a very useful estate planning tool. Our team will meet with you to learn more about your estate plan and what your goals are for using a power of attorney. We can then make recommendations about what kind of document to choose, plus help you create the document and pick a responsible agent.

If you’re considering creating a power of attorney, contact The Bains Law Office today. Our team has years of experience in estate planning, and we are confident we can help you with whatever you need. Call us at 559-282-8924 for a consultation with our team.