A power of attorney is a very important tool to plan ahead in case of incapacity. You can create powers of attorney in order to ensure your financial and business affairs are properly managed and can also create powers of attorney for healthcare in order to control who makes medical decisions for you. However, you need to be aware that when you create a power of attorney, you are placing your trust in the person who you select as your agent. The decision of who to name as your agent is a very important one and there are many things to consider as you select the person who is going to act on your behalf.
Eghrari Wealth Training Law Firm has extensive experience helping clients to create powers of attorney in Suffolk County and surrounding areas. We can advise you on what authority you are transferring when you create a power of attorney and on how to ensure that you create a legally valid power of attorney that is going to protect your interests.
Give us a call as soon as possible so you can begin working on your incapacity plan and so our legal team can help you to select the right agent who will act on your behalf.
Tips for Choosing an Agent When Creating a Power of Attorney
In New York, you can use a standard statutory short form document in order to create your power of attorney. However, before you complete any paperwork, you need to make sure you understand exactly what authority you are granting and when the authority will go into effect.
You have different options, including creating a general power of attorney, a limited power of attorney to give authority to act only on a certain matter, and a healthcare power of attorney to give authority for making medical decisions.
You can also choose a springing durable power of attorney if you want the power of attorney only to go into effect when you become incapacitated and to remain in effect upon your incapacity. If you want the authority transferred to your agent immediately but want to make sure it lasts once you are incapacitated, you can use a standard durable power of attorney.
Deciding on the right kind of power of attorney is only the first step. No matter what authority you transfer, or when you transfer it, you want your agent to be someone who you feel is going to make good decisions that reflect your wishes. As you consider who to name as your agent, some factors to think about include:
- Is the person who you are choosing over the age of 18 and able to act as an agent?
- Will the person who you are choosing be able to manage your assets and financial affairs?
- Will the person you are choosing have the knowledge to make smart choices when managing your money and property?
- Does the person who you are selecting as your agent know what your wishes are and can you count on him to respect them?
- Can the agent you are choosing respond well in a crisis or will he or she become unable to make tough choices about your medical care?
You may wish to name both an agent as well as a backup agent in case something happens to the first person who you would have selected to act on your behalf. A Suffolk County power of attorney lawyer can assist you in completing the formal requirements, creating your power of attorney document, and vesting the authority you desire in a person who you trust.
While agents have a fiduciary obligation to act on your behalf and not to enrich themselves using your assets or otherwise to put their own interests first, it can sometimes be hard to actually identify when an agent has acted inappropriately and to take the relevant legal action. It is best to avoid the problem by ensuring that you have chosen someone who will do the right thing.
How a Suffolk County Power of Attorney Lawyer Can Help
When you are ready to create your plan for incapacity, contact a Suffolk County power of attorney lawyer today at Eghrari Wealth Training Law Firm. Our legal team understands the laws on creating powers of attorney and can help make sure you are protected no matter what occurs in your future. Give us a call at (631) 265-0599 or contact us online to learn more about how an experienced lawyer can help you. You can also join us for a free seminar to learn more about creating a power of attorney and choosing your agent.