A power of attorney is a document naming a person you trust to enter into legal, business and/or medical transactions for you in the event that you become unable to do so yourself. It is important to only give power of attorney to someone you completely trust. This person will have complete control over the management of your estate and/or person if you become incapacitated. Generally, a spouse or child will perform this function, but you are able to name anyone of your choosing.
A person acting under power of attorney can perform the following functions:
Engage in banking transactions
Buy and sell stocks and bonds
Complete business transactions
Authorize medical decisions, including placement into a nursing home
Powers of attorney can be limited so that they only go into effect upon your disability, or if appropriate, you can authorize them to go into effect immediately. Some power of attorney can also grant only limited powers, such as the power to transfer a piece of real estate within a limited time frame if you are going to be out of town for a closing.
Do I Need A Power Of Attorney?
The lawyers of Hoffman Walker & Knauf have created powers of attorney documents for many of our clients. We understand that this is a sensitive issue for many people, and often planning for an unforeseen injury can be an uncomfortable process. We strive to help our clients make their wishes clear while keeping the process as comfortable as possible.
Many of our clients in other areas of the law turn to us for help with powers of attorney because they have developed a lasting relationship with our firm based on trust and integrity. When creating such sensitive and important documents, it is critical to work with an attorney who intimately knows you and your family, and who understands your needs and concerns. As your family’s lawyers, Hoffman Walker & Knauf is very considerate of your unique and special needs.
Please contact Northern Kentucky estate planning attorneys at Hoffman Walker & Knauf today to learn more about the power of attorney services we can provide for you. We serve clients in Boone, Campbell, Gallatin, Grant, and Kenton counties.