DALLAS PROBATE ATTORNEY: WHAT IS A POWER OF ATTORNEY?

Posted on | August 7, 2011 | No Comments

A power of attorney is a document that one enters into to grant specific decision making rights to a trusted love one or friend. There are two types of power of attorneys, durable and nondurable. The most widely used is the durable power of attorney, which does not terminate upon the disability or incapacitation of the grantor. The person granting the power of attorney can select that the attorney-in-fact make all general decisions regarding his or her finances, property, business or legal affairs;  or the grantor can limit the power of attorney to one specific transaction after which the power of attorney will terminate.

One can also grant a medical power of attorney that grants the attorney-in-fact the right to make important medical decisions in the event that the grantor becomes unconscious or incapacitated and therefore is unable make those decisions on their own.

Both a power of attorney and a medical power of attorney are useful tools in the estate planning process. They allow you to choose someone you trust to make important decisions for you when you are unable to make those decisions yourself. If you would like to set up a power of attorney or medical power of attorney, please contact The Wright Firm today at 972-353-4600 and speak to a Dallas Probate Attorney or visit us on the web at www.thewrightlawyers.com 

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