Powers Of Attorney Make An Estate Plan Complete – Talk To A Houston Lawyer Today
A truly effective estate plan addresses your needs as well as the needs of your loved ones. That includes minimizing your loved ones’ burdens and clarifying your wishes in the event that you ever become incapacitated. You can achieve these goals in a variety of ways, including:
- Medical powers of attorney: A medical power of attorney allows you to appoint someone you trust to make decisions for you regarding your medical care if you become incapacitated.
- Financial powers of attorney: A financial power of attorney allows you to name a trusted person to make financial decisions for you in the event that you become temporarily or permanently incapacitated.
- Advance directives to physicians: Advance directives allow you to communicate your wishes regarding end-of-life care and other issues to your doctor.
- Designation of guardian: A designation of guardianship allows you to appoint someone to act as the guardian of your minor children.
- Disposition of remains: This can ensure that your remains are treated according to your wishes.
- Supports and services: This is a less restrictive alternative to guardianship.
The future can be difficult to predict, and the smartest choice is to be fully prepared for any possibility. As part of a comprehensive estate plan, the tools discussed here can help ensure that your wishes are known and that the people making decisions for you are the ones you choose.
50 Years Of Combined Experience | We Craft Effective Estate Plans In Houston
At Doehring & Doehring Attorneys at Law, we understand the need for an estate plan to answer as many questions and to prepare for as many possible scenarios as possible. Our goal has always been to help our clients create comprehensive estate plans.
With 50 years of combined estate planning experience, we can help you make the right choices about how to round out your estate plan. Powers of attorney and other legal documents can help give you peace of mind – and more control over the future of your estate.
What Is The Difference Between A Durable And A Nondurable Power Of Attorney?
Many people believe a power of attorney is a simple form. In reality, the wording determines whether the document will be accepted when your family needs it most.
One important decision is whether the document should continue if you become incapacitated. A nondurable power of attorney ends once you can no longer make decisions for yourself. It may be useful for limited purposes such as signing documents during travel or completing a specific transaction.
On the other hand, a durable power of attorney allows your chosen agent to continue managing your affairs if illness or injury prevents you from doing so. This often avoids the need for guardianship and gives families clearer direction during uncertain times.
Banks and medical providers often reject documents that leave questions unanswered. We prepare powers of attorney with real situations in mind so your agent can act without delay.
Financial Power Of Attorney
When you grant someone power over your finances, you are entrusting them with your livelihood and legacy. A financial power of attorney should clearly describe what your agent can and cannot do.
Your representative can be authorized to handle specific tasks:
- Financial and digital management: This allows your agent to pay bills, manage bank accounts and access digital assets like email or social media.
- Property and government benefits: Your agent can manage real estate transactions and handle retirement accounts or veteran benefits on your behalf.
- Medicaid and gifting authority: Includes explicit authority for gifting or Medicaid planning to help protect your estate from being drained by long-term care costs.
Long-term care planning requires careful drafting. The language must support future planning decisions and reflect your overall goals to avoid delays or refusals by financial institutions.
Our firm provides a holistic, concierge-level approach by coordinating with other professionals, such as your CPA, to review your plan.
Keeping Your Documents Current And Enforceable
Powers of attorney should be reviewed as circumstances change. An outdated document can create uncertainty when decisions must be made quickly.
These documents may expire for several reasons:
- Revocation: A written revocation formally cancels prior authority.
- Major life changes: Marriage, divorce or health changes may require updates.
- Expiration provisions: Some powers of attorney end on a stated date.
- Death: Authority always ends at death.
We help clients replace outdated documents and confirm they will be accepted when needed.
Get Started With Your Powers Of Attorney And Advance Directives
Powers of attorney, advance directives and other documents can clearly communicate your wishes. Turn to Doehring & Doehring Attorneys at Law for the experienced estate planning help you need. To schedule a complimentary initial consultation, call our Houston office at 866-456-2361 or contact us online.