A power of attorney provides an individual with the security they need in the event that they are unable to make important decisions on their own behalf. To learn more, reach out to our firm and speak with an experienced Montgomery County estate planning attorney today. Our legal team is committed to ensuring that you and your future are protected. Contact us today.
What is a power of attorney?
A power of attorney authorizes a person to perform on another individual’s behalf. It is written permission to act on another’s behalf in private affairs, legal matters, and business matters. The person allowing the other to have this role is also known as the principal, grantor, or donor. The authorized individual is referred to as the agency.
What is the benefit of appointing a power of attorney?
There are a number of benefits to having a power of attorney. One of the primary reasons people like to have a power of attorney is to feel secure in the event that they become incapacitated. Another reason to have a power of attorney is to permit their spouse to act on their behalf. This is very typical for married couples who spend a lot of time apart due to work demands to have a power of attorney. Having a power of attorney can be a useful tool no matter how old you are.
To learn more about the role of a power of attorney, or about other estate planning issues, reach out to our firm today to learn more. Contact JD Katz, P.C. today.
What are the different kinds of powers of attorney?
There are a number of different types of power of attorney options in Maryland:
- Durable Power of Attorney: This option permits an agent to make determinations in the event that the person becomes incapacitated.
- General Power of Attorney: This authorizes an individual to grant the agent power of attorney over financial matters that can be for both personal or business transactions.
- Limited Power of Attorney: Here, an individual grants authority to an agent for one specific transaction, or for transactions for a predetermined period of time.
To learn more about powers of attorney or the estate planning process in general, reach out to our skilled attorneys today. Our legal team is equipped with the experience and knowledge required to ensure that you and your future are protected.
Contact our experienced Montgomery County, Maryland firm
The attorneys at JD Katz have years of experience compassionately guiding clients in Maryland through the estate planning and administration process. Our firm also has experience with matters of elder law, business law, tax law, and litigation. For a legal team that will put your needs first, contact JD Katz today.