Power of attorney in Cockrell Hill, Texas is a legal setup in which one person (the principal) grants another (the attorney-in-fact) the authority to make legally binding decisions on his or her behalf. This is done for a variety of reasons, both personal and business-related, but it is frequently done to permit the attorney-in-fact to make important decisions for the principal in the event that the principal becomes incapacitated or disabled, and thereby unable to make his or her own decisions.
If you are giving someone power of attorney, it's up to you to decide precisely what kind of decisions they will be able to make, and when they'll be able to make them. In any case, however, it's very important that you completely trust the person to whom you're granting this authority, since any power of attorney, even if it's very limited in scope, can be abused. Obviously, whatever type and amount of power you wish to give will depend on your intentions, as well as many external factors.
If you have a strong preference with respect to end-of-life care, but worry that you might be unable to express your wishes when the time comes, you may want to give a family member the legal authority to make such arrangements for you, if necessary. Of course, the power you grant them should be clearly limited to medical decisions, if that's all you want them to be able to decide. It should additionally clearly state that this power will not directly vest until and unless you actually become incapacitated. For reasons that should be obvious, you should only give this power to a person you trust.
In Cockrell Hill, Texas, you can probably find pre-printed forms at office supply stores available for purchase. They already have the basic terms of a power-of-attorney agreement written, and just require the parties to fill in the blanks with names, dates, and a few other details.
Types of Power of Attorney Arrangements in Cockrell Hill, Texas
In Cockrell Hill, Texas, there are 3 forms of power of attorney. They are:
1. Limited power of attorney - this is probably the most limited type of power of attorney. It lets someone act on your behalf in a single instance. It is used most frequently in large sales transactions involving a written contract. If the closing of the deal is set to take place far away from where one of the parties is located, they can give limited power of attorney to someone who is closer. All you have to do is give that person the authority to act on your behalf in this one transaction. This authority automatically expires once the deal is finished.
2. Durable power of attorney - this gives the attorney in fact the power to make decisions on a general area of the principal's affairs (for example, the power to access the principal's assets to pay the principal's debts, or the power to make healthcare decisions on behalf of the principal). Unlike limited power of attorney, durable power of attorney does not expire unless the principal revokes it. This is useful, because it permits the attorney-in-fact to make important decisions for the principal if the principal becomes incapacitated.
3. Springing power of attorney - this is a form of power of attorney which doesn't truly take effect until the occurrence of some stated event. This event can be anything, but it is typically the principal becoming disabled. You should be aware, though, that it is not always clear what "disabled" means in such an agreement, which can result in disagreements, resulting in litigation.
Can a Cockrell Hill, Texas Lawyer Help?
Drafting a power of attorney agreement in Cockrell Hill, Texas is not always easy. And even if the arrangement you want to set up is relatively simple, it might still be a good idea to have a lawyer go over it, just to make sure that there are no flaws that might prevent it from being implemented.