Power of attorney in Plainview, 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 number of reasons, both personal and business-related, but it is frequently done to permit the attorney-in-fact to make crucial decisions for the principal in the event that the principal becomes incapacitated or disabled, and thereby unable to make his or her own decisions.
The principal can state in advance the scope and nature of the attorney-in-fact's authority. The agreement should be very clear on this matter, so you give the attorney-in-fact enough power to carry out your instructions, but not more than they need in order to accomplish your objectives. Moreover, the attorney-in-fact should be someone you trust, such as a family member or life partner. You also need to be cognizant of the fact that your distinct situation, as well as the actions you want the attorney to be able to take on your behalf, will help decide the most effective arrangement.
For example, some people have particular wishes, whether based on religion or personal preference, about how they should be cared for at the end of their life. Oftentimes, people who are at the end of their lives become unable to express their wishes. Consequently, it becomes necessary to have somebody else who knows what they would want, and has the legal authority to give effect to those wishes.
Occasionally, you can find pre-printed forms in Plainview, Texas permitting you to easily draft a power of attorney document. In some cases, this may be all you need. These forms already have the basics of such an agreement committed to writing. All you and the other party have to do is fill in the blanks, per the instructions, and possibly have the forms notarized.
Types of Power of Attorney Arrangements in Plainview, Texas
There are 3 power-of-attorney arrangements that can be set up in Plainview, Texas. Which one is best for you will largely depend on your goals, and your individual situation. They are:
1. Limited power of attorney - this lets the attorney-in-fact exercise limited authority in a single transaction. It is useful, for instance, if someone is buying property in another state, and the deal is nearly done, but a few documents need to be signed. The buyer could give a resident of that state power of attorney, authorizing him or her to complete the transaction on the buyer's behalf. Conveniently, the power automatically terminates when the transaction is complete.
2. Durable power of attorney - unlike limited power of attorney, discussed above, this does not automatically expire, though the principal can stop it at any time. It is typically not limited to a single transaction, either. Rather, it covers a broader subject matter, though it still has limits. For instance, you could give someone durable power of attorney to make medical decisions for you, but they would only be permitted to act in that context.
3. Springing power of attorney - under this arrangement, the attorney-in-fact does not get power of attorney until the happening of some stated event. The specified event is typically the incapacity or disability of the principal, though it can be virtually any event you wish. You should be aware, however, that it is not always clear when the principal has become sufficiently "disabled" for the power of attorney to take effect. This question sometimes has to be decided by a court, which can be costly and time-consuming.
Can a Plainview, Texas Lawyer Help?
While setting up power of attorney in Plainview, Texas can be simple, there are some cases in which it will inevitably be convoluted. In such cases, the process will be much easier if you have a reliable attorney to help you along the way.