Texas durable power of attorney for finances11/25/2023 We perform original research, solicit expert feedback, and review new content to ensure it meets our quality pledge: helpful content – Trusted, Vetted, Expert-Reviewed and Edited. We write helpful content to answer your questions from our expert network. Having a power of attorney in place, especially a durable power of attorney, can offer you great peace of mind, knowing that your affairs will be handled by someone of your choice and not someone chosen by the court-which could end up costing time and money as well.Reviewed by Michelle Seidel, B.Sc., LL.B./JD, MBA When deciding to create a power of attorney, be sure to think about all the aspects you may want an agent to handle and consider carefully the person-or people-you will name to be in charge of your affairs, especially in case of your incapacitation.Īlso, be sure to revisit your power of attorney documents regularly, at least once a year, to make sure that they still reflect your wishes. Because of this, you should always make sure your document is executed in accordance with your state's laws. Getting a power of attorney drawn up can be as easy as using an online process, but note that state laws vary regarding the establishment of a power of attorney. Why all the different types of powers of attorney? You may find that you want one person to make medical decisions for you, such as your spouse, but that your business partner is in a better position to make business-related decisions. Also called a durable power of attorney for health care, this gives the person of your choice the authority to make medical decisions for you should you be unable to do so.
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