Power-of-Attorney for Assets
A power-of-attorney can allow you to empower someone to make certain decisions on your behalf. While a powerful and important tool, a power-of-attorney can also be abused or misused. An experienced attorney can draft a power-of-attorney to meet certain narrow guidelines and can advise you on the safest course of action when permitting someone the legal authority to take action on your behalf.
The Los Angeles attorneys at Howard Law have the legal knowledge and skills to assist you in drafting a power of attorney for a variety of reasons, including health care decisions and property, banking and business matters. Howard Law represents clients throughout the Los Angeles area, including Anaheim, Riverside and Santa Ana.
In many case, a limited, or special, power of attorney may be most appropriate when the desire is to grant permission to represent you in a specific matter, such as selling property. Problems can arise when a person grants someone power of attorney and the person entrusted uses it beyond the scope for which it was intended, such as making investment decisions or even opening or closing accounts in your name.
Additionally, someone granting power of attorney privileges should include an expiration clause that will terminate such powers with the conclusion of certain business or the passage of time. Granting open-ended power of attorney to someone can also leave you open to long-term liability. Conversely, a durable power of attorney will need to be granted when you desire to grant someone the rights to make decisions on your behalf in the event that you die or become incapacitated; otherwise, a power of attorney would become ineffective in the event of your death or incapacitation.
While there are online forms and many avenues to creating a power of attorney for many different reasons, we believe anyone considering granting a power of attorney is best served by taking the time to consult an experienced attorney to best draft such powers in a way that will protect your rights and your financial well-being. Call Howard Law today for a confidential appointment to discuss your rights.
CALIFORNIA POWER-OF-ATTORNEY - Call (800) 872-5925 - Howard Law