Power of Attorney
A Power of Attorney gives another person legal authority to act for you. Your Power of Attorney can cover simple tasks like writing or endorsing checks. It can also involve more complex matters like selling real estate. The person to whom you grant the power is called your attorney-in-fact.
You can determine the scope of your Power of Attorney. You can authorize just one task, like selling a car. You can also limit the power of attorney to a certain time frame. In certain instances it makes sense to name two persons to serve jointly as your attorney-in-fact. In other situations, people name one person to act as attorney-in-fact in the area of health care decision-making and another person to function in the financial arena.
Typically, when the power of attorney is part of an estate plan, you do not limit it in duration, and you give consideration to granting broad powers to allow your attorney-in-fact to do much that you could do for yourself.
Before preparing your Power of Attorney, the attorneys at Tuohy Minor Kruse will help you determine if certain extraordinary powers should be included in your instrument. Examples of those extraordinary powers:
It is a mistake to think that "one size fits all" when it comes to your Power of Attorney. Tuohy Minor Kruse will tailor the Power of Attorney to fit your needs. With a soundly written Power of Attorney in hand, you will limit disputes amongst your loved ones regarding these key decisions because you will have already made clear who you wish to take legal control.