(732) 361-2533 Everyone has the legal right to make decisions about their lives, including buying and selling property, taking legal action against another person, and entering into contracts. However, situations may arise where an individual is unable or unwilling to make these decisions. If a person is incapable of making crucial choices, a contingency plan could ensure that someone else has control over that individual’s life.
One way to retain control over a person’s decisions is to create a power of attorney. These legal documents allow another party to act on your behalf for a specific purpose or to achieve a specific goal. It is vital to draft power of attorney documents in a way that conforms to legal requirements and leaves no doubt as to your intentions. A Freehold power of attorney lawyer could protect your interests in these important matters, so reach out today to speak with a seasoned estate planning team member.
What is a Power of Attorney?
State law determines the legal impact of all powers of attorney. There are two versions of powers of attorney that come with benefits and drawbacks. According to N.J.S.A § 46:2B-8.2, a power of attorney establishes the legal authority to act on behalf of a subject, until this subject passes away or rescinds the document. Power of attorneys entitle someone to:
- Pay bills
- Obtain housing
- Exercise legal rights
- Apply for government benefits
- Buy or sell property
In contrast, a different document known as a limited power of attorney allows someone to act in specific circumstances. For example, a limited power of attorney entitles someone to initiate the sale of a specific piece of property, take legal action on a subjects behalf, and exercise any other power available to them under the law. Once a specific goal is complete, the limited power of attorney ends. A skilled lawyer in Freehold could help determine which power of attorney document is most beneficial for the circumstances.
When to Create a Power of Attorney
Although the impact of a power of attorney will never change, the reasons for creating these documents may depend on a situation. People often create powers of attorney to retain control over their lives after being diagnosed with a disability or ailment. For example, a person who receives a serious health diagnosis may want entrust a friend or family member to make decisions about their future. However, a a power of attorney holder does not have the ability to make medical choices.
Other people may want to use these tools for a more limited purpose. For example, if an individual feels unqualified to make an important decision, such as selling a home, they may decide to enact a power of attorney. Likewise, a person may be out of the country and could be unable to file a lawsuit or meet a deadline for government benefits. A lawyer in Freehold could help a person decide if creating a power attorney is right for them.
Speak with a Freehold Power of Attorney Now
A variety of situations may arise in a person’s life that leave them unable to make important decisions on their own, including a developing medical condition, a lengthy absence from the country, or lacking the experience or knowledge to make the proper choice in a given situation.
Creating a power of attorney enables another party to act on your behalf. Regardless of whether you want to achieve a specific goal or prepare for the future, reach out to a Freehold power of attorney lawyer now to evaluate your options.
