Power Of Attorney
Rogers Law Firm, LLC
Power Of Attorney
We try our hardest to be ready for anything and to care for the people we love. However, unexpected events can occur that render us unable to care for ourselves or manage our affairs.
It is critical to organize your affairs, especially if you have children. When an accident or illness occurs in a family with young children, it can be extremely difficult. Retired people should start the process as soon as possible. A power of attorney can be useful in these situations.
What Is A Power Of Attorney In Indiana?
An Indiana Power of Attorney, also known as a PoA, is a legal document that allows someone else to manage your legal and financial affairs on your behalf, such as signing contracts, accessing your bank account/s, and selling your property. The “principal” is the person who grants permission, whereas the “agent” is the person or thing who obtains authority.
Why Is A POA Required?
Many important issues become urgent if you become incapacitated due to old age, illness, or a sudden accident; you want your care and treatment to reflect what you believe will be most beneficial to you and your loved ones.
Rather than leaving the people, you care about to make healthcare decisions (possibly causing family conflict), it is preferable to have your individual wishes carried out by a person you choose to have power of attorney. The future is unpredictable, and even if you have the best of intentions, a sudden illness or injury may render you unable to make decisions.
You could believe that once they’ve appointed a durable power of attorney, you’ll lose influence over how your assets are utilized and how decisions are made. This is just not the case, and a power of attorney is only necessary if you are no longer psychologically competent in managing your personal, legal, or financial affairs.
A power of attorney form can be used to appoint someone to represent an individual and their affairs in a variety of situations if they become incapacitated.
Types Of POA In Indiana
Power of Attorney documents can be classified in a variety of ways. They are primarily determined by how long the powers will be valid for, what they will grant authority over, and when they will take effect.
The first thing to consider when deciding on the type of PoA you require is how much authority or power your Agent needs. The answer will determine whether you need to create one of the following types of PoA:
General Power of Attorney
This type of PoA gives you broad authority over your affairs.
Durable Power of Attorney
This type of PoA remains in effect even if you become incapacitated or mentally incompetent.
Springing Power of Attorney
A PoA that Activates based on certain criteria.
Special Power of Attorney
A PoA that grants a limited scope of authority over specific matters.
A Power of Attorney (PoA) can help you achieve so many estate planning goals that you will almost certainly include one in your plan at some point. Unfortunately, because PoAs are so common, they are frequently misunderstood, misused, and abused. Executing the incorrect type of PoA can be a costly error. Rogers Law’s Indianapolis elder law & estate planning attorney can help you understand your Power of Attorney to avoid making unnecessary mistakes.
Authority To Make Health Care Decisions
One of the most common limitations imposed on an agent under a general Power of Attorney is the ability to make health-care decisions on behalf of the principal. In most states, including Indiana, you must execute a specific type of PoA to give someone the authority to make medical care and treatment decisions on your behalf. In Indiana, you must execute an advance directive to appoint someone to make health-care decisions on your behalf if you are unable to do so yourself. When it comes to senior health care, our elder law attorney specializes in assisting seniors and can handle a wide range of legal issues relating to or affecting the elderly.
Choosing The Representative Who Has Your Best Interest
Navigating the complexities of family dynamics is often an overlooked aspect of elder law. Elder law attorneys are bred to be sensitive to family dynamics and the uniqueness of each client’s situation. If you are unable to make medical or financial decisions for yourself, someone close to you can be appointed to make those decisions for you.
When selecting representatives, some common factors to consider include where they live, their relationship to one another, their professions, and how busy they are. These conversations may appear intrusive at times, but they are necessary to determine who is acting in your best interests, who will be supportive in the future, and who you can rely on to assist you in carrying out your affairs.
With Rogers Law’s assistance, you can create a power of attorney that allows a person you designate to manage your assets, sign legally binding documents, defend you in lawsuits, prosecute lawsuits, file income tax returns, apply for government benefits, and make financial decisions on your behalf if you are physically or mentally incapable.
Increase Your Sense Of Control Over The Future
The importance of quality of life cannot be overstated. Unfortunately, as our loved ones get older they may suffer from memory loss or memory illness such as Alzheimer’s, dementia or stroke. Let our elder law attorney in Indianapolis, IN help you make informed decisions and supplement additional understanding of the legal processes you are about to undertake. Take time to discover the law’s effect on your life as well as your options to determine the best choices for you by clicking one of the links below: