POWER OF ATTORNEY
LAWYER IN NEWTON, KANSAS
According to a study by Merrill Lynch and Age Wave, only approximately one-third (33%) of American adults 55 and older have a durable power of attorney. A power of attorney allows you to name a trusted person who can make legal, financial, and health decisions on your behalf in the event that you're unable or unavailable to make such decisions. Unfortunately, a lot of adults are hesitant to choose their power of attorney. If you are thinking about choosing your power of attorney, it is important that you consult with an experienced Kansas estate planning attorney for proper guidance.
At Cornerstone Law, LLC, I am dedicated to providing knowledgeable and comprehensive guidance to individuals and families in estate planning legal matters, including wills, trusts, probate, and powers of attorney. I'm available to discuss your unique circumstances and explore your estate planning options. As your legal counsel, I can guide you through the legal process involved in establishing your power of attorney and help you make the right choice.
My firm — Cornerstone Law, LLC — proudly serves clients in Newton, Wichita, Hillsboro, Hutchinson, and counties throughout Kansas, including Harvey, Marion, and Sedgwick. Contact me today to start the process of exploring your power of attorney options.
WHAT IS A POWER OF ATTORNEY?
A power of attorney is a legal document that grants another person (the "agent" or "attorney-in-fact") the power and legal authority to make financial, healthcare, property, and legal decisions on your behalf when you can't make such decisions yourself. Through a power of attorney, you (the principal) can designate authority to an agent who will oversee your health, financial, and legal affairs when you're unable or unavailable to do so.
Pursuant to Kansas Statutes Section 58-654, "a principal may delegate to an attorney in fact in a power of attorney general powers to act in a fiduciary capacity on the principal's behalf with respect to all lawful subjects and purposes or with respect to one or more express subjects or purposes. A power of attorney with general powers may be durable or nondurable."
TYPES OF POWER OF ATTORNEY
There are two predominant types of power of attorney recognized under Kansas law, including:
GENERAL POWER OF ATTORNEY
Under Texas law, a general or financial power of attorney allows the attorney-in-fact to perform various activities on the principal's behalf, including writing checks, collecting payments, entering into contracts, leasing farmland, and selling or buying real estate property. The general power of attorney may be durable or nondurable.
DURABLE POWER OF ATTORNEY FOR HEALTH CARE
In Texas, a durable power of attorney for health care allows the agent to make medical care decisions on behalf of the principal in the event that they are unable to do so. The healthcare power of attorney may be created as part of an advanced directive.
THE IMPORTANCE OF A POWER OF ATTORNEY
Below are some reasons why a power of attorney is important:
It allows you to choose a trusted person to help manage your legal, healthcare, and financial affairs when you're unable to act.
It allows you to have a conversation with your loved ones in which you can discuss your desires and wishes.
It eliminates the need for the court to appoint a guardian or conservator.
All transactions and activities performed by the POA remain private, maintaining your privacy and that of your loved ones.
It helps prevent any possible questions regarding your intent.
It helps make urgent decisions regarding your healthcare and financial affairs, saving precious time and money.
It allows the attorney-in-fact to consult with other agencies to obtain relevant information or provide professional services to the principal.
It helps all parties involved obtain peace of mind.
FACTORS TO CONSIDER
Choosing an attorney-in-fact for your financial or healthcare power of attorney requires careful consideration. Here are some guidelines to help you make an informed decision:
Choose a dependable and trustworthy person who respects your true wishes, is mindful of such privileges, and has your best interests at heart.
Choose a person who can act diligently, notwithstanding the situation.
Choose an agent who can make informed decisions, even when under pressure or in possibly strenuous circumstances.
Choose a person who can keep detailed records and accurate information about all transactions or tasks executed on your behalf.
Choose an agent who has a clear understanding of their duties, roles, responsibilities, and legal rights, and can execute their designated tasks efficiently.
Choose a person who lives close to you so that they can be easily reachable when the need arises.
Choose a person who is willing to cooperate and work together with your advisor, lawyer, accountant, and other parties to achieve your goals.
WORK WITH A SKILLED
ESTATE PLANNING ATTORNEY
Having a power of attorney document makes it possible for you to leave your assets, finances, and medical interests in the hands of a trusted person if you become unable or unavailable to act. Choosing an attorney-in-fact to manage your healthcare, financial, and legal affairs requires thorough deliberation. When choosing your power of attorney, it is important that you consult with an experienced estate planning attorney to receive detailed guidance and help you navigate important decisions.
At Cornerstone Law, LLC, I have the resources and experience to assist and guide clients in the legal matters of estate planning, including powers of attorney. As your legal counsel, I can:
Help protect your legal rights, best interests, and family's future
Review your personal situation and explore your legal options
Guide you through the steps involved in drafting your power of attorney
Advise you on how to choose a reliable, trusted, and responsible person as your agent
Work to address your needs, concerns, and personal goals
Craft a strategic estate plan that protects your assets, property, and business investments
POWER OF ATTORNEY LAWYER SERVING NEWTON, KANSAS
If you need assistance in choosing your power of attorney, contact my firm — Cornerstone Law, LLC — to schedule a consultation. I can offer you the legal counsel, support, and advocacy you need to navigate important decisions in your selection process. My firm serves clients in Newton, Wichita, Hillsboro, Hutchinson, and the Kansas counties of Harvey, Marion, and Sedgwick County.