POWERS OF ATTORNEY
WHO DO YOU TRUST? This should be your first question if and when you might need to delegate to another person the authority to transact one or more of your affairs, whether on a temporary, one-time basis or over a longer period of time. No matter your reason for wanting or needing to grant a Power of Attorney, having someone whom you trust completely is critical to your decision to give these powers to another person.
NOT JUST WITH A LAST WILL, TRUST OR HEALTH CARE DIRECTIVE. Powers of Attorney are often considered in context of Last Wills and Trusts and Health Care Directives, but often times there may be circumstances when a more limited or narrowly drafted Power of Attorney is useful for a specific reason. The potential reasons for creating a Power of Attorney are almost limitless – a trip overseas when you may need someone back home to attend to your business or personal affairs in your absence; a temporary physical incapacitation; a relocation where you leave matters behind that require personal attention in your absence; or maybe a matter about which you have limited knowledge or expertise and with which you prefer to entrust decisions to a trusted and qualified proxy. Whatever your needs, I can design and create the Power of Attorney best suited to your circumstances.
COMPLIANCE WITH STATE LAW. Indiana has a statute that governs the creation and exercise of Powers of Attorney, so consulting legal counsel is well advised. The Powers can be easily abused, so caution and prudence are imperative! The delegated powers can be as broad as anything and everything that you could do for yourself, to the conducting of a one-time sale of a car. The powers can also be limited or unlimited in duration and/or by your incapacitation, but they will lapse upon your death. The Powers of Attorney will not, by themselves, create an obligation for your surrogate to act on your behalf (that would require something more) – it will merely allow him or her to do so. And, in case your situation warrants it, you may grant a Power of Attorney to more than one individual, in the form of Co-Powers of Attorney or as successor Powers of Attorney.
USE AN ATTORNEY. There are a myriad of issues to consider in granting any type of Power of Attorney, and consultation with an attorney is prudent to say the least. Following the statutory requirements is only one reason to use an attorney for this important task. Anticipating potential conflicts and areas of abuse are other reasons. The person to whom powers of attorney are granted is referred to as the “Attorney-in-Fact” for the principal making the designation. Whether you are the designated Attorney-in-Fact, or are the one making the designation to another, you should learn as much as you can about the Attorney-in-Fact’s obligations.
CALL FOR A FREE POWER OF ATTORNEY ASSESSMENT. Call for a free consultation over the phone to see if a Power of Attorney makes sense for you, even if you are not considering a Will, Trust or Health Care Directive at the moment. If you like, I will visit your place of business or home with no initial fee for an on-site half hour consultation. You will learn something in the process, whether you retain me or not. Please remember that making this preliminary contact will not in itself create an attorney client relationship although anything you discuss or share during that call or visit will be treated as and remain confidential.