Powers of Attorney Lawyers in Dayton, Ohio
Getting your affairs in order and planning for an uncertain future can never be overemphasized. Powers of attorney (POA) remains a crucial estate planning tool which may be used to authorize another person to help make vital property, health, or financial-related decisions in the event that you become unavailable or unable to do so.
If you're considering drafting an estate plan and need proper guidance regarding powers of attorney, speaking with a seasoned Ohio estate planning attorney is imperative. At StachlerHarmon Attorneys at Law, we have the knowledge and practice to advise and guide individuals and families in the legal matters of estate planning and POA. Our trusted legal team can walk you through the decision-making process involved in drafting a POA document and choosing a dependable attorney-in-fact.
StachlerHarmon Attorneys at Law is proud to serve clients across Dayton, Ohio, and surrounding areas of Miamisburg, Warren, Clark County, Greene County, Preble County, and Butler County.
What Is a Power of Attorney?
A power of attorney (POA) can be described as a written document which permits a person (the principal) to choose or authorize another individual or entity (agent or attorney-in-fact) who will act on the principal's behalf in certain property, financial, legal, or tax matters – if the principal becomes incapacitated, unable, or unavailable to make sure decisions on their own.
According to Ohio Revised Code Title 13 Section 1337.60, "a power of attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal). Your agent will be able to make decisions and act with respect to your property (including your money) whether or not you are able to act for yourself."
Types of Powers of Attorney in Ohio
Here are various kinds of powers of attorney that are recognized under Ohio law and their unique purposes:
General Power of Attorney
A general power of attorney or financial POA authorizes the agent to act on behalf of the principal in practically all matters. The agent can assist with tasks such as opening financial accounts, handling personal finances, signing contracts, and closing real estate deals.
Healthcare Power Of Attorney
In Ohio, the healthcare power of attorney – also known as advanced care directives – allows the attorney-in-fact to make decisions about the principal's medical care, treatments, and procedures, in the event that they become mentally incompetent, critically ill, unconscious, or otherwise unable to act.
Limited or Special Power Of Attorney
A limited or special power of attorney can be used by the principal to indicate specific matters whereby the agent may be able to act on their behalf. Using a limited POA document, the principal can authorize the attorney-in-fact to make a single transaction, bank withdrawals, or sell a house.
Springing Power of Attorney
A springing POA is a power of attorney that will only become active after a certain event has occurred. However, the specific event will be indicated in the POA document. For instance, after a sudden incapacitation.
Furthermore, under Ohio laws, all powers of attorney are considered to be durable. Hence, the agent may be eligible to act on behalf of the principal after sudden incapacitation unless stated otherwise in the POA document.
Important Considerations When Choosing a Power of Attorney
Choosing your attorney-in-fact or agent is a huge decision that requires careful consideration. Here are some vital things to consider to enable you to make the right choice:
Choose someone who is accountable and responsible.
Choose someone who understands the roles and responsibilities of an agent.
Choose someone who knows and understands your exact intentions.
Consider the kind of relationship you have with such a person.
Consider whether there may be a conflict of interest.
Choose a trustworthy and reliable person.
Choose someone who can make swift and intelligent decisions when under strenuous situations.
Choose a person who is willing to serve and execute their roles diligently.
Choose a person that is close to your location or easy to reach.
Choose a person who will make your best interests and true wishes a priority.
A practiced Ohio power of attorney lawyer can evaluate your personal situation and work intelligently with you to select a trustworthy agent who can act on your behalf.
Work With an Experienced Estate Planning Attorney
When establishing your estate plan, making adequate provisions for proxy decision-makers about crucial matters is crucial. However, you need to choose a reliable and trustworthy agent to ensure that your finances, health, legal, and property matters are in competent hands. Therefore, when drafting a POA document, consulting with an experienced estate planning attorney is important for proper guidance and to help you navigate intelligent decisions.
At StachlerHarmon Attorneys at Law, we're committed to guiding clients through the decision-making processes involved in choosing an attorney-in-fact. As your legal counsel, we can inform you about your legal options regarding POA and help you decide the right one for your specific needs. In addition, we will help draft your POA document, address your various needs and concerns diligently, and make sure your affairs are in order.
Powers of Attorney Lawyers Serving Dayton, Ohio
If you need assistance drafting a POA document or choosing your agent, call StachlerHarmon Attorneys at Law today to arrange a consultation. Our dedicated legal team can offer you the personalized legal counsel and advocacy you need to make informed decisions. We proudly serve clients across Dayton, Miamisburg, Warren, Clark County, Greene County, Preble County, and Butler County, Ohio.