Skilled Lafayette Power of Attorney
A power of attorney is an incredibly useful legal tool. To fully understand what type of power of attorney may be most effective in your case, be sure to consult an experienced legal professional. A qualified Lafayette power of attorney lawyer can explain what your options are, help you draft a clear power of attorney document, and guide you through the process from beginning to end.
When to Hire a Power of Attorney Lawyer From The Thompson Law Office, LLC
Estate planning is a legal process that allows an individual to plan for various aspects of the future, primarily after their death. However, it also establishes contingencies in case they become incapacitated due to illness or injury. Unfortunately, the number of people with even a will stands at only 46%.
Even more troubling is that only 20% of adults under 30 have a will, and further estate planning is likely an even lower priority for many individuals. Even though their death is hopefully very far off, unexpected events could happen that may incapacitate them. A power of attorney can protect them in these situations.
What Is a Power of Attorney?
A power of attorney (POA) is an important and useful type of estate planning document. It grants legal authority to a designated person, known as an agent or attorney-in-fact, to act on another individual’s behalf.
Common types of power of attorney include:
- General Power Of Attorney: This POA gives an agent broad authority to make decisions and see to a wide range of responsibilities on another person’s behalf. It is usually used by business owners and in temporary absences. This can enable authorized people to manage financial or legal matters and sign documents. However, a general POA may not be suitable for long-term planning, as it often becomes void if the individual is mentally incapacitated.
- Special Or Limited Power Of Attorney: This type of POA is designed to give an agent authority to handle specific tasks or have authority for a set time. This tailored POA can be used for a singular transaction or managing certain assets while someone is absent, among other events. Once the defined task or deadline is met, the POA becomes void.
- Durable Power Of Attorney: This POA remains in effect, even when the person loses mental capacity, unlike other types, making it essential for many estate plans and long-term planning. A durable POA can include the ability to handle financial matters, medical decisions, property management, and more.
- Medical Power Of Attorney: If someone becomes unable to make or communicate their choices for medical treatment, this type of POA is critical. The designated agent can make important decisions regarding surgeries, treatments, and other healthcare-related matters on the person’s behalf, in accordance with their wishes.
If you think any of these legal tools may be beneficial for your estate plan or the planning for a loved one, you should hire a power of attorney lawyer. There are numerous circumstances where a power of attorney can be useful for protecting your assets and health.
Work With The Thompson Law Office, LLC
The Thompson Law Office, LLC, is a woman-owned family law firm based in Lafayette, LA. We are proud to offer clear and straightforward legal advice to our clients while aggressively advocating on their behalf. Our attorneys are deeply familiar with the Lafayette power of attorney laws and always provide meticulous attention to detail on every case. We want your legal needs to have the time and care they deserve.
Power of attorney cases in Lafayette are generally handled by the 15th Judicial District Court, which is located at 800 South Buchanan Street, Lafayette, LA 70501.
FAQs
How Is a Power of Attorney Agent Chosen in LA?
In Louisiana, the creator of the power of attorney document generally can designate an agent of their choice. Since a POA agent is entrusted with significant responsibility and authority to make important decisions on your behalf, you should choose an adult who is competent, reliable, and trustworthy. This could be your spouse, a family member, or a trusted friend. If you’re unsure who to choose, you can discuss the options with an experienced power of attorney lawyer.
Can You Change a Power of Attorney in Louisiana?
Yes, in Louisiana, it is possible to change a power of attorney arrangement at any time, so long as you have the adequate mental capacity to do so. To change a power of attorney, you must revoke the current agent in writing as well as designate a new agent. Additionally, you must deliver a copy of the new document to every institution that relied on the old document, such as hospitals, financial institutions, etc.
How Long Does It Take to Create a Power of Attorney?
In Louisiana, how long it takes to create a power of attorney document depends on how you file. The process may only require a few days if you submit the forms online without the help of a professional, whereas working with an estate planning attorney generally takes a few weeks to be sure all the paperwork is correct and clear. The process of establishing a power of attorney involves selecting an agent, drafting the document, and signing it before a notary.
Can a POA Withdraw Money From a Bank Account?
In Louisiana, yes, a power of attorney agent can withdraw money from the principal’s bank account if the document is drafted to include this ability. A power of attorney arrangement does not automatically have to include financial authority as part of its terms. If the agent is a fiduciary acting in your interests, they legally cannot use the funds for themselves unless specifically permitted to do so.
Speak With a Power of Attorney Professional
At The Thompson Law Office, LLC, we say what we mean, and we mean what we say. We also take the time to listen to your story, questions, and concerns. Reach out to us today to schedule an initial consultation with a capable attorney. We can provide your case with the time, care, and attention it deserves. We can also discuss which power of attorney cost works for your budget.
