What is a power of attorney?

What is a power of attorney?

As a power of attorney, you have specific responsibilities that you were entrusted with. This role means that you will act as an agent on behalf of another individual. When that individual is unable to make decisions for themselves, due to injury or another nature, you are the one who carries out their wishes. They may have shared with you beforehand of any health decisions or matters regarding their estate. This can be used to guide you when you are left to make decisions for them. You may be in charge of their real estate or any estate administration. For your role, it depends on how much power you are given as their power of attorney. Sometimes you may only have to handle one situation whereas other times some individuals may have to face multiple matters. In the state of Maryland, there are a few different categories for power of attorneys. These individuals can have differing responsibilities based on the situation of the individual who has given them authority.

When someone is named as the general power of attorney, they have the ability to conduct the same financial actions that the individual granting them this role would perform. These tasks can include filing taxes, executing contracts or borrowing money.

As someone with a limited power of attorney role, you are an agent that can take certain actions on behalf of the individual who named you. These actions are at the discretion of the individual who gave you the authority. They have the ability to make your power as limited or as broad as they would like. Due to this, a limited power of attorney can vary depending on each situation, which may vary by person.

When you are unable to make decisions due to an incapacitated nature, your durable power of attorney will have the knowledge to make end of life care decisions for you. Previously, you would have told them how to proceed with certain procedures. You will have told them your take on life support and organ donation, along with other aspects. This individual will ensure that end of life care is done accordingly and can even manage finances according to directions they were given. After a triggering event in a person’s life, a springing power of attorney can go into effect. These events may include something of a medical or physical nature that caused a disability. The individual is then given the authority to make certain decisions for the other party.

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.

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