What is a Power of Attorney?

Wondering what a power of attorney (POA) is and what power it gives the agent of it, specifically? A power of attorney is a document that allows an individual to designate an individual or organization to have the power to manage their estate and affairs under specified circumstance, usually to do with situations where one is suffering from age-related illnesses that render one unable to reliably manage it on their own and make the best decisions. Specific laws related to power of attorney vary from state to state. Read about the legal validity specifications for power of attorneys in Virginia here. 

A Power of Attorney may just be one of the most important legal documents that you have to sign related to estate planning. Zaremba Center Estate Planning & Elder Law in Williamsburg is here to help you make sure you dot your “i’s” and cross your “t’s”, making sure no mistakes are made and your wishes are clear and ultimately fulfilled. Contact us today to schedule a consultation!

What Powers Can Be Included in a Power of Attorney?

A Power of Attorney can give the specified person or organization the power to:

• Sell the principal’s property
• Sign contracts for the principal
• Administer a trust
• Make health care decisions
• Do any other legal acts the principal themselves could do

A power of attorney gives the specified individual or organization a broad array of powers. However, power of attorneys may be limited to meet exactly the specifications of the Principal’s choosing. That’s why it’s so important to have a reliable elder law attorney on your side, to help you draft documents precisely and optimally for your wishes. 

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4 Types of Power of Attorney

There are roughly four main types of power of attorney:

1. General Power of Attorney — This POA gives the agent roughly the same abilities to legally act as the principal. A general POA is terminated when the principal becomes incapacitated or passes away. In Virginia, unless otherwise specified, POA is treated as DURABLE unless otherwise specified. 
2. Durable Power of Attorney — A Durable POA grants the agent the power to legally act on behalf of the principal, including after the principal becomes incapacitated. 
3. Special or Limited Power of Attorney — As the name suggests, a Limited POA grants the agent specific and limited powers to act on behalf of the principal. For example, the agent may be granted the authority to sell a property, but nothing beyond that. 
4. Springing Durable Power of Attorney — A POA may be either current or “springing”, which is one that only becomes available and effective after a specified event has occurred, such as when the principal becomes incapacitated.

Get Started with Superior Estate Planning Services

While a power of attorney is typically a rather straightforward document, it is best to work with an experienced estate planning attorney such as Walt Zaremba to ensure that your wishes are fully met and no errors are made. Are you in Williamsburg and want help setting up a power of attorney? Contact Zaremba Center Estate Planning & Elder Law today!