Power of Attorney

 

For many people, it is difficult to think ahead to a time when they may become incapacitated and unable to make major decisions for themselves. Yet, thinking ahead and planning for such a future is necessary for those who want to ensure hard decisions regarding health care, treatment and life support are left to persons they trust. A power of attorney is a document that appoints a person—called the “attorney-in-fact” or “agent”—to act on your behalf should you become incapacitated for whatever reason. The scope of power this person has depends on the language of the document and the type of power of attorney you use. Roybal-Mack & Cordova, PC can guide you toward the best document for your needs.

Types of Power of Attorney

New Mexico recognizes four types of power of attorney: General, Limited, Durable and Springing. Our Albuquerque estate planning attorneys will help you better understand the purpose of each:

• General: A general power of attorney gives your agent all the powers you yourself have. Those include the right to pay your bills, sign documents on your behalf and conduct financial transactions for you. A general POA ends upon your incapacitation or death.
• Limited: A limited power of attorney grants someone certain power for a limited time. You may choose to use this document, for instance, if you are going out of town but need someone to sign the deed to your new home. The agent’s power ends the moment the specified transaction is complete.
• Durable: A durable power of attorney can be general or limited in scope. However, unlike both, it remains in effect should you become incapacitated. Without a durable power of attorney, no one could represent you should you become unable to represent yourself.
• Springing: A spring power of attorney grants the agent all the powers you yourself have. However, it only goes into effect when you become incapacitated. It is essential that you clearly define the standard for determining incapacity that may trigger the POA.

Regardless of the type of document you choose to use, it is vital that you select an agent whom you trust to act only in your best interests.

Why Use an Albuquerque Estate Planning Attorney

The language of your legal documents must be clear and leave zero room for interpretation. Roybal-Mack & Cordova, PC has extensive experience in devising air-tight legal contracts as well as in-depth knowledge of the laws pertaining to powers of attorney. For the personalized guidance you need to draft this vital document, contact our Albuquerque law firm today.

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