The attorneys at Shadrix, Lane & Parmer, P.C. will discuss the best Powers of Attorney for your situation and the legal requirements in order to draft and execute a Powers of Attorney document.
Requirements for Powers of Attorney:
- All parties must understand the document;
- All parties must be legally competent to enter into a Power of Attorney;
- The Agent must understand he or she has a strict duty to act prudently as agent.
- Financial matters: authorized signature on banking accounts, pay bills, manage financial, investment and business affairs, perform retirement planning activities, sell property, obtain insurance and pay taxes;
- An Advance Directive for Health Care gives decision-making authority for health care matters, including the administration or withdrawal of medical treatment, provide access to HIPAA protected health information, the ability to complete medical forms, negotiating and contracting for medical or professional services, and the authorization and decision of a move to a nursing home, hospital or long-term care facility.