Powers of Attorney
A Power of Attorney allows you to designate a trusted party who can act on your behalf for financial or medical purposes.
Durable Power of Attorney
A Durable Power of Attorney (sometimes called a Financial Power of Attorney) grants a particular person or persons the authority to act as your agent for financial transactions. You can choose whether the Power of Attorney will be effective either immediately or only in the event of your incapacity. The agent’s authority ends upon your death or revocation of the Power of Attorney.
A Durable Power of Attorney allows your agent to make a wide range of financial decisions. Often, a designated agent will use his or her authority to help pay bills, buy or sell property, access bank accounts, pay taxes, etc.
Medical Power of Attorney
A Medical Power of Attorney designates an agent or agents who will have the power to make medical decisions for you in the event that you are not able to do so. Unlike a Durable Power of Attorney, a Medical Power of Attorney only becomes effective upon your incapacity. Along with a Medical Power of Attorney, you should execute a HIPAA Release which allows your doctor to communicate freely with your agent about your medical needs.
Houston estate planning attorney Anna Valkovich will assist you in designating the appropriate agents for your Durable and Medical Powers of Attorney. To arrange your complimentary initial consultation, contact The Valkovich Law Firm.