Power of Attorney Services in Nashville
Get the Estate Planning Tools You Need Today
At the law office of Lackey | McDonald, PLLC in Nashville, our experienced legal professionals know the importance of having the right power of attorney contracts in place when it comes to your financial and medical affairs. Having a power of attorney can be helpful if you need to appoint someone trustworthy to make legal decisions should you become incapacitated mentally or physically. It can also be helpful if you need someone to submit and handle paperwork on your behalf if you are out of the country.
When you designate a person under a power of attorney, they can make the following decisions on your behalf:
- Buy and sell real estate
- Pay your bills
- Manage your financial affairs
- Access your bank accounts
- File income tax returns and handle tax matters
- Handle stocks and bonds
- Make important estate planning decisions
Types of Powers of Attorney
There are two categories for which you can use power of attorney: financial and medical. You can choose to have your spouse handle both or you may choose two different people.
There are four main types of powers of attorney that we set clients up with:
- Limited: With a limited power of attorney, you give someone else the authority to act for you in a very limited capacity. This type of power of attorney generally ends at a certain time that is specified in the document.
- General: This type of power of attorney is more comprehensive than a limited power of attorney. Under this arrangement, the person you select has all of the powers and rights that you have yourself. A general power of attorney can be used to make decisions if you are not incapacitated, but still require assistance with financial matters.
- Durable: With a durable power of attorney, you can grant general or limited authority to the person you select. A durable power of attorney remains in effect once you become incapacitated and remains in effect until you pass away.
Do I Really Need Powers of Attorney in My Estate Plan?
Many people will go through physical or mental incapacity at least once in their lifetime, and it’s important to have the right documents in place so you can have someone you trust to handle your affairs when it comes to your money and your healthcare. It may not always be obvious, from a legal standpoint, to see who you want to have power over your affairs. This is why it’s very important to create your power of attorney contracts and documents.
Talk to One of Our Experienced Lawyers Today
The estate planning attorneys at Lackey | McDonald, PLLC in Nashville will make sure your power of attorney documents are completed and filed correctly so you can have peace of mind. We know that each client’s situation is unique depending on the size and contents of their estates, which is why we will gladly take the time to sit with you and talk about your estate so we can identify what legal tools you need to protect your best interests.