Power of attorney in Round Rock, 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 commonly done to authorize 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.
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. Additionally, 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. Thus, it becomes necessary to have somebody else who knows what they would want, and has the legal authority to give effect to those wishes.
In Round Rock, Texas, you can sometimes find pre-printed forms that let you easily draft a power-of-attorney agreement. However, if your situation is particularly complex, you should probably have a lawyer draft it for you, to ensure that the agreement is enforceable, or that there are no surprises.
Types of Power of Attorney Arrangements in Round Rock, Texas
There are 3 power-of-attorney plans that can be set up in Round Rock, 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 is the most limited form of power of attorney. It lets the attorney-in-fact exercise his or her power once, and in only one instance (laid out by the principal, of course). This is usually used in business deals, if it is not convenient for the actual party to a deal to be physically present for the signing of some documents, it can be done through an attorney-in-fact. You simply need to give them the permission to sign the paperwork on your behalf, and it will be just as binding as if you had signed the documents yourself.
2. Durable power of attorney - unlike limited power of attorney, discussed above, this does not automatically expire, though the principal can dissolve it at any time. It is normally 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 authorized to act in that context.
3. Springing power of attorney - this is close to durable power of attorney, but the power is conditional. That is, it does not take effect unless some certain event takes place. This event can be anything. Most commonly, however, the agreement authorizes the attorney-in-fact to make important medical and financial decisions for the principal, only in the event that the principal becomes incapacitated. However, there are sometimes disagreements over whether or not a person is really "incapacitated" to the point that the power of attorney has been triggered. This can lead to a court of law having to determine the issue.
Can a Round Rock, Texas Lawyer Help?
Formulating a power of attorney agreement in Round Rock, 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 keep it from being implemented.