Did you ever wonder who would take care of important family business or financial matters if you should become temporarily incapacitated? If you are like most people, the answer to that question is no. However, it is an important question that is worth consideration. Naming a Power of Attorney — someone to legally act on your behalf — can be an uncomfortable idea. We understand. Relinquishing control of part of your life, your business, or your money to another person is an unwelcome idea for most of us. However, a Power of Attorney can play an important role in effectively handling your affairs. Knowing which type of Power of Attorney and who to grant that power to is an important decision. At The Law Offices of Frank Bruno, Jr., we are here to help. A top-rated power of attorney lawyer in NYC from our firm can advise you no matter where you live in Queens, Nassau, Brooklyn, or throughout New York City on how to use a Power of Attorney for maximum benefit.
The purpose of a Power of Attorney is to give you the ability to grant a loved one or another trusted individual the legal authority to manage certain aspects of your life should the need arise. The person designated in a Power of Attorney is known as the “Agent” and, once designated, the Agent may pay your bills, file your tax returns, make financial transactions, access your medical records, transfer your assets, buy or sell your property, and more.
The decision to appoint a Power of Attorney is an important one and it is critical that the Agent is someone that you trust to follow your instructions, act in your best interests, and make important decisions on your behalf. At The Law Offices of Frank Bruno, Jr. our estate planning lawyers are dedicated to helping clients work through the process of selecting someone to act as Agent in a Power of Attorney.
There are Powers of Attorney for a number of different situations, from a Power of Attorney to handle a specified matter, such as authorizing a sister to sell your car while you are traveling, to a long-term, Durable Power of Attorney that appoints someone to handle health or financial matters in the event that you become incapacitated. Knowing which type of Power of Attorney best addresses your situation is very important.
When including a Power of Attorney as part of your overall estate plan, it is important to understand the important role the Agent plays, and the specifics of what legal authority is given with each type of Power of Attorney. Make the most informed decision possible when considering a Power of Attorney; schedule a free consultation with an experienced Power of Attorney lawyer in NYC from The Law Offices of Frank Bruno, Jr.
As long as you have the legal capacity to make your own decisions you may continue to do so even if you have named a Power of Attorney. The Agent that is named in a Power of Attorney document is your legal representative and is legally authorized to act on your behalf. But if you are capable of making your own decisions, you may direct your Agent to handle only those tasks that you want addressed.
Yes. You may revoke your Power of Attorney at any point in time without explanation. If you choose to revoke your Power of Attorney, you must inform the person you appointed — your Agent — in writing that you are revoking the Power of Attorney. It is also important to notify any financial institutions where your Agent has used the Power of Attorney that this power has been revoked. Request that all copies of your Power of Attorney be returned to you. Revoking a Power of Attorney because the Agent is not following your instructions or acting in your best interests can be a serious matter if that power was abused. Make sure your interests and assets are protected; schedule a free consultation with a power of attorney lawyer in NYC from The Law Offices of Frank Bruno, Jr.