People are becoming increasingly busy in today’s world. This means that individuals have an increasing amount of personal and financial affairs which they must pay attention to. There are times, however, when one may be left unable to make important decisions. These times can include periods of incapacitation, illness, or when one is simply going to be absent for a prolonged period. It is important to have a plan in place, for the management of your affairs, when such circumstances occur. By having a medical and/or financial power of attorney, you can delegate decision making authority in regards to health or financial issues. It is important that such an instrument be drafted in a way which meets your needs without giving away too much authority. Holly Meyer is a Long Island estate planning lawyer who assists with the creation of such instruments. Contact our office today to schedule an initial consultation. We also serve those in Queens, Brooklyn, and other New York areas.
Long Island attorney assisting those who need to plan times in which they cannot make medical or financial decisions
A “power of attorney” is a legal instrument through which a person gives someone else authority to make decisions on their behalf. A “medical power of attorney” relates to decisions involving health care, while a “financial power of attorney” grants control of issues related to finances. The individual receiving authority under these arrangements is referred to as an “agent” or an “attorney-in-fact.” How much authority the individual receives will depend on the way the instrument is structured; their authority may be over one specific issue or it may apply to a broader set of matters. The length of time for which the individual will have authority will depend on whether the instrument is considered “durable” or “non-durable.” A durable instrument will generally remain in effect until the person granting authority (known as the “principal”) revokes it. A non-durable instrument will generally stay in effect only until a specific transaction has been completed or a specified event has occurred.
There are many reasons why someone may wish to create a durable or non-durable power of attorney. For example, an individual may travel extensively and wish to empower a family member to regularly make decisions on their behalf. These decisions may involve the buying or selling of property, the writing of checks, or the making of loans. For this type of ongoing arrangement, a durable instrument may be appropriate. Another example may include an individual who is going to be incapacitated for a period of time, due to a medical condition, but is expecting to make a full recovery. This latter individual may wish to grant very limited financial authority, such as the ability to pay bills, to a family member until such time that they are fully recovered. Under this possibility, a non-durable power of attorney may be appropriate. When preparing an instrument, it is vital that you consider all of your needs without giving away more authority than is necessary. Retaining experienced counsel can help to ensure that the instrument is planned out and drafted appropriately.
Holly Meyer is a Long Island estate planning lawyer who assists New York residents with drafting financial or medical powers of attorney. Your initial consultation will be used to evaluate your situation, to help you understand all of your options, and to help you understand the ramifications of potential choices. We will also draft the documents which best fit your particular situation. Our office will retain a copy of the document and, should any issues arise, we will be available to immediately deal with any questions or disputes. We understand that delegating authority involves serious decisions. We will take your matter seriously. Contact us today.
Lawyer providing quality service to New York residents requiring a power of attorney
The creation of a power of attorney involves important decisions. It is crucial that you retain counsel who will be responsive to your needs. Holly prides herself on providing high levels of service. She promptly responds to phone calls, quickly responds to emails, and makes herself available to address your concerns. This allows you to focus on the more important aspects of your life.
We also serve Kings County residents in Brooklyn, residents of Queens, those in Nassau and Suffolk Counties, as well as people in other New York areas.