When establishing your estate plan, it's advisable to make provisions for individuals that can make proxy decisions for you. A power of attorney is an important estate planning tool that permits you to choose a dependable person who can make informed personal and legal decisions on your behalf should you become unavailable or unable to do that.
If you're considering estate planning or need help with powers of attorney, you should speak with an experienced Texas estate planning lawyer for detailed guidance. At The Law Office of Mario Flores, I'm poised and ready to guide and advise clients in estate planning-related matters, including living trusts, wills, and powers of attorney. I'm available to discuss the benefits of having powers of attorney and walk you through the legal procedures involved in drafting this vital document.
The Law Office of Mario Flores, PLLC proudly serves clients across Austin, Texas, and the surrounding areas of Round Rock, Georgetown, and San Marcos.
According to Texas law, a power of attorney can be described as a written document that allows a person (the principal) to authorize someone (the attorney-in-fact or agent) to make decisions or take action in important matters on the principal's behalf. Using the POA document, the principal can designate the agent to act on their behalf in legal, property, tax, health, and financial matters in the event that the principal is unavailable or unable to make such decisions.
Here are some powers of attorney that are recognized in the state of Texas:
A durable POA allows the agent to act on the principal's behalf in various matters, including making financial, tax, property, and healthcare-related decisions. A durable POA will remain effective even after the principal is incapacitated.
The statutory or financial POA allows the attorney-in-fact to act on behalf of the principal in both financial and business matters.
A medical power of attorney allows the agent to make healthcare or medical decisions on behalf of the principal when they're unable to do so due to incapacitation or critical illness.
Including a powers of attorney document in your estate plan is vital because it achieves the following:
- Allows you to name a trusted person to help in managing your financial and personal affairs
- Allows you to discuss your desires and preferences with loved ones
- Eliminates the need for court-ordered guardianship or conservatorship
- Ensures that there is no delay in executing urgent tasks or making crucial decisions
- Helps maintain your privacy and those of your loved ones
- Allows the named representative to seek services or vital information from agencies on your behalf
- Eliminates any room for doubts about the principal's true wishes or intent
- Helps you and your close family members achieve peace of mind
Choosing an honest and reliable person as your attorney-in-fact remains a vital part of every POA document. Here are some important considerations when selecting your attorney-in-fact:
- Choose someone who is dependable and trustworthy.
- Choose a person who will prioritize your needs and wishes.
- Consider the person's willingness and ability to serve.
- Consider your relationship with the person.
- Choose someone that knows your intent.
- Choose someone who will prioritize your best interests.
- Consider conflict of interests.
- Consider closeness or proximity to your location.
- Choose someone capable of making swift and intelligent decisions when under strenuous conditions.
A trusted attorney can work intelligently to make sure you name an agent who would respect your wishes and put your interests first.
Planning for an uncertain future can never be too early. Should you become critically ill, incapacitated, unable, or otherwise unavailable to make crucial decisions by yourself, you can have the self-assurance that your financial, business, health, and life choices are in competent and reliable hands. A knowledgeable estate planning attorney can assess your personal needs and enlighten you about your options.
At The Law Office of Mario Flores, PLLC, I have the diligence and experience to guide clients through the complex procedures involved in estate planning and establishing powers of attorney. Using my extensive knowledge, I can help draft your POA document and create a detailed estate plan that fits your unique needs. In addition, I will ensure that you name a trusted agent who will always represent your best interests and make intelligent decisions on your behalf.
If you need assistance drawing up a power of attorney document or choosing a trustworthy agent, contact me at The Law Office of Mario Flores, PLLC today to schedule an initial consultation. I can offer you the personalized legal counsel and dedicated advocacy you need to make informed decisions. My firm proudly serves clients across Austin, Round Rock, Georgetown, and San Marcos, Texas.