Power of Attorneys
In Nevada, a power of attorney is a legal document that gives broad powers to a designated person or entity, often referred to as agent or an attorney-in-fact. This allows your agent to act on your behalf, should you become incapacitated or suddenly unable to make decisions on your own.
At Abrams Probate & Planning Group in Las Vegas, you will find skilled legal help in these and many other estate planning matters. As an attorney with decades of experience, I am ready and able to help you make the most of your future. Feel free to call me at (702)369-3724.
How Powers Of Attorney Work
A power of attorney can be drafted for either financial or health care matters. It is a way for you to place important decisions in the hands of someone you trust instead of having important financial and healthcare issues decided by the court.
This document allows you to specify exactly what powers you want to be bestowed upon the agent and under what conditions they will become effective. The authority and responsibilities of the agent are restricted to the terms of the power of attorney, and the agent is required to always act in your best interests and keep accurate records. The powers automatically end at your death, but they can also end if you revoke them or get a divorce or if a court invalidates the document due to a question of your mental competency.
Choosing Someone To Make Medical Decisions
A health care power of attorney permits your designated agent to make important decisions regarding your medical care if you are unable to do so yourself. It can be created in conjunction with an advance health care directive that contains a living will, specifying your preferences regarding life support.
Choosing Someone To Handle Financial Matters
A power of attorney can be used to ensure that your financial affairs are handled appropriately if you become incapacitated. Without the document, your spouse, family members or close friends will be required to petition a Nevada court for the authorization to handle your finances. Powers you can grant your agent may include the ability to:
- Pay bills and taxes
- Manage real estate
- Collect retirement benefits
- Invest assets
- Make operational decisions for your business
- Hire legal representation on your behalf
- Sell or transfer ownership of assets
- Purchase insurance
- Access financial accounts