If you are considering a power of attorney, it is in your best interests to consult with an experienced lawyer. At McLeod Law Firm, our team of dedicated estate planning attorneys can assess your situation and help you choose a trusted individual for your power of attorney. Additionally, we can provide you with comprehensive guidance regarding all aspects of the estate planning process in Georgia.
What is a power of attorney?
The power of attorney is quite flexible and can be used to allow the holder to make all financial decisions or limited financial decisions on behalf of the other person. The duration can be lengthy or it may be for the completion of a single financial decision so that the scope of the document can be tailored to your needs. We can review your case and determine which of the following is best suited for your needs:
General power of attorney – The general power of attorney is broad and gives the holder a great deal of powers and responsibilities including filing tax returns, handling banking and other financial transactions, managing real estate and other property, and settling claims. Through a power of attorney, you can also have a trusted family member or friend manage any businesses you own if you become disabled.
Special power of attorney – A special power of attorney allows you to delegate an individual to perform a specific act or acts, including those listed above.
If a power of attorney is written so as to become effective in the future upon the occurrence of a specified event, a date, certain or verified disability, then it is known as a springing power of attorney because it springs into existence in the future. Alternatively, it may become effective immediately upon execution.
Contact a well-established Gainesville estate planning firm
An advanced healthcare directive is part of a well-rounded estate plan. At the McLeod Law Firm, our legal team has decades of experience helping clients in Gainesville and Braselton, preserve their legacy. For more information on setting up a power of attorney in Georgia, Call (770) 536-0202 today.