Secure Your Future With The Right Power Of Attorney
Selecting the right person to act on your behalf is the most important choice you’ll make when setting up a power of attorney (POA). In Texas, this powerful legal tool ensures that someone you trust can handle financial, healthcare or other essential decisions if you become unable to make those choices yourself.
Choosing the right agent requires careful thought. Dan Burke Attorney at Law is here to help you learn how to acquire a power of attorney in Texas and the steps for selecting the right agent for your needs.
What Are The Types Of Power Of Attorney in Texas?
When it comes to creating a power of attorney, Texas offers two primary types — durable and non-durable power of attorney.
These powers of attorney can be customized to fit your needs, granting your agent broad or limited authority, depending on the responsibilities you’d like them to have. For more information on what sets the two agent types apart, see our breakdown below.
Non-Durable Power Of Attorney
This POA is typically used to allow someone to complete a specific transaction, like selling property or filing paperwork on your behalf. However, it ceases to be effective if you lose mental capacity or become incapacitated.
Durable Power Of Attorney
Unlike the non-durable type, your selection of a Texas durable power of attorney stays in effect even if you lose mental capacity or become unable to manage your affairs. This type is ideal for people who want to ensure continuous management of their affairs, even if they’re unable to make decisions due to health reasons.
Tips For Selecting The Right Person As Your Agent
Choosing your agent is a significant decision, as they may be responsible for your healthcare, legal or financial matters. Here are essential qualities to look for when selecting someone as your agent:
- – Trustworthiness and fair-mindedness — The person should be reliable and capable of making unbiased decisions on your behalf.
- – Knowledge of your wishes and values — Select someone who understands your personal and financial preferences. This knowledge can guide them in making decisions that align with your goals and values.
- – Loyalty and sense of responsibility — The role requires a firm commitment to act in your best interests, even when challenging decisions arise.
Can Two Siblings Have Power of Attorney? Considerations For Multiple Agents
It’s possible to appoint two individuals as co-agents for your power of attorney. For instance, parents may choose to appoint multiple agents, with two siblings having power of attorney. With this strategy, you can designate specific people to handle different responsibilities, such as medical and financial decisions.
Additionally, setting up a secondary or “successor” agent can further protect your interests. This successor agent steps in if the primary agent can no longer serve, offering peace of mind and continuity in managing your affairs. Just make sure that all agents involved fully understand and respect your expectations to avoid any conflicts.
Can Power Of Attorney Change A Will?
A common misconception is that an agent with power of attorney can alter a will, but this is not the case.
An agent with power of attorney does not have the authority to change a will in Texas or any other state. While they can handle various responsibilities — like paying bills and managing assets — their role does not extend to altering the terms of your estate plan.
For any changes to a will, the principal themselves would need to make those decisions, assuming they still have the mental capacity to do so. If you’re looking to make changes to your estate plan, consult with an attorney who can help you navigate the legal requirements.
How To Grant Power Of Attorney In Texas
Establishing a power of attorney in Texas involves several steps. Here’s an outline of what you’ll need to do:
- – Choose your agent(s) — Consider the qualities discussed above when selecting someone to serve as your agent. This person will act on your behalf, so choose wisely.
- – Define the POA’s scope — Decide whether you need a durable or non-durable POA, and specify the areas your agent will manage, such as healthcare or financial decisions.
- – Meet with a professional attorney — Consulting with an attorney can help ensure that your interests are accurately reflected in the written agreement.
- – Complete the legal forms — Texas requires specific forms to set up a power of attorney, which must be properly completed, signed and notarized.
Protect What Matters Most With A Thoughtful POA Decision
A power of attorney is an essential tool for protecting your interests, but choosing the right agent is key. You should select someone you trust, understands your values and can handle responsibility.
Setting up a Texas durable power of attorney ensures that you’ll have continuous support in managing important aspects of your life, even if you’re unable to make decisions yourself. If you’re looking to learn more about this important topic, reach out to Dan Burke Attorney at Law, today.
