In estate planning law a common tool used to help people manage their estates is a Power of Attorney (POA). A POA is a document that can be used by a principal (person giving authority to another) to assign an agent (person receiving authority) to act on the principal's behalf. Commonly POAs are given when someone may need assistance in making financial (durable power of attorney) or healthcare (healthcare / medical power of attorney) related decisions for themselves.
POAs can be general (far reaching and long lasting) or limited (for a specific transaction only). POAs can also be immediate (take effect upon being executed) or springing (take effect on the occurrence of some future event).
Utilizing a power of attorney in a comprehensive estate plan is generally a good idea.
Wente Law - Estate Planning
Serving the west valley area of Phoenix Arizona, including Goodyear, Buckeye, Surprise, Avondale, and more.
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