Georgia has both a financial power of attorney and a healthcare power of attorney, usually referred to as an advance directive for healthcare. When you are creating your estate plan, you should consider including both documents. Both documents allow someone else to act on your behalf if you become incapacitated.
Financial Power of Attorney
The financial power of attorney can give the agent as much or as little power as you want and can be effective immediately or only on incapacity and the powers cease at your death. Some of the powers that can be granted are very broad, so we recommend reviewing the powers to determine which powers you are comfortable granting your agent.
Advance Directive for Healthcare
An Advance Directive for Healthcare permits the agent to make medical decisions for you when you are unable to make those decisions. These may include decisions for surgery or to remove life support as well as disposition of your remains after death.
Choosing an Agent
Because the person you choose as your agent can make important decisions should you become incapacitated or otherwise cannot make these decisions on your own, choose someone you trust to follow your wishes. If you choose a person today, and you decide that person is no longer the best person to represent you later, you can revoke your power of attorney and name a new agent. If you choose to revoke a financial power of attorney, you must send the agent a certified letter notifying him or her of the revocation of his or her appointment.
Options in a Power of Attorney
- When making powers of attorney, you can create a durable power of attorney. A durable power of attorney remains in effect should you become incapacitated and typically includes general powers.
- You can also create a limited power of attorney. Limited powers of attorney generally grant an agent power to execute a specific transaction. For example, you might need a relative to handle an out-of-state real estate transaction for you. That relative will be able to sign documents on your behalf and at your direction for that transaction only.
- You can name more than one person as an agent and you can also name a successor to become your power of attorney automatically should something happen to the first person you name.
There are many options when naming agents under powers of attorney. To discuss your estate planning needs, contact Grissom Law, LLC.
Disclaimer
This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.