Get Peace Of Mind With A Tailored Durable Power Of Attorney
A power of attorney is a legal document that grants someone the authority to make decisions on your behalf. It can play a crucial role in an estate plan and comes in various forms. Among these, the durable power of attorney stands out as a particularly powerful tool. Our Memphis durable power of attorney lawyers at Crislip Philip are ready to guide you on how to effectively use it. With 75 combined years of experience, our team offers quality, cost-effective estate planning support throughout Western Tennessee. We can help you create a durable power of attorney tailored to your needs.
What Makes A Durable Power Of Attorney Different?
Unlike other powers of attorney, a durable power of attorney stays effective even in the event the person who formed it (the principal) becomes incapacitated. So, under it, your appointed agent can continue to manage your affairs if you no longer have the legal capacity to make decisions for yourself. Our knowledgeable attorneys can help you understand the nuances of durable powers of attorney and in what ways they could potentially help with your unique estate planning goals.
Why Is A Durable Power Of Attorney Important?
The durability of this tool makes it invaluable for incapacity planning and a common feature within advance directives. You can use it to ensure that decision-making authority remains in the hands you trust should the unexpected strike. It can also prevent the need for guardianship should you become incapacitated. This can provide peace of mind for both you and your family. We are here to answer your questions about this estate planning tool and the important benefits it can yield.
How To Form A Durable Power Of Attorney In Tennessee
In Tennessee, forming a power of attorney requires a written document with your signature. For a power of attorney to be durable, the document must clearly state that the power survives incapacity. Depending on the authority granted, additional requirements may apply, such as notarization or witnesses. Our lawyers can guide you through all the steps of forming a durable power of attorney. We provide you with comprehensive support aimed at ensuring your durable power of attorney document is complete, sound and enforceable.
What Authority Does An Agent Have Under A Durable Power Of Attorney?
The scope of an agent’s authority under a durable power of attorney depends on the specific terms of the document. There are two main types:
- General: Grants broad legal authority to manage a person’s affairs
- Limited: Restricts authority to specific tasks or areas, such as health care or financial decisions.
Our team can help you define the scope of agent authority within your power of attorney document to ensure that it suits your particular needs.
Choosing A Trustworthy Agent
An agent’s actions can significantly impact your life, even under a limited durable power of attorney. It is crucial to choose someone you trust for this role. Important traits to consider in an agent, also called an attorney-in-fact, include:
- Integrity and honesty
- Reliability and dependability
- Financial acumen
- Ability to make difficult decisions
- Strong communication skills
Our attorneys can answer any questions you have about agent appointments as you determine who would be the best choice for you when it comes to serving in this important role.
When Does A Durable Power Of Attorney Take Effect?
Typically, a durable power of attorney takes effect once you sign the formation document. The exception is a springing power of attorney. Unlike an immediate power of attorney, a springing power of attorney only becomes active upon a specific event, such as incapacity. It is very important to carefully consider your goals and circumstances when deciding whether or not to have your durable power of attorney also be springing.
Revoking A Durable Power Of Attorney
Durable powers of attorney are revocable. In Tennessee, revocation typically involves signing a document that clearly states your intent to revoke the power of attorney and getting this document notarized. You then generally follow this by notifying all parties involved. Our durable power of attorney lawyers can provide guidance on the revocation process to help ensure it is executed correctly.
The Importance Of Careful Drafting
As you can see from the discussion above, the specific terms of a durable power of attorney can have significant impacts. So when forming such a document, careful drafting tailored to your unique needs is essential. Our drafting services are informed by our team’s 75 years of experience and meticulous attention to detail. We will strive to create legal instruments that provide clarity and security for your future.
Contact Our Trusted Team Today
If you are considering a durable power of attorney, our experienced lawyers are here to help. Contact us now and take the first step toward safeguarding your future financial and health care decisions. You can connect with us through our online contact form or by calling 901-201-5078 or toll-free at 800-335-9613.