Green Bay Power of Attorney Lawyer for Elders in Wisconsin
Given the uncertainty of today’s world, future-proofing is an important aspect of adulthood. As people grow older, the chance for tragedy and accidents increase. When it happens, a proper plan can allow you to delegate people you trust to help you through these major hurdles. A simple, yet powerful document to allow your loved ones to assist you is called a Power of Attorney.
A POA document can allow you to have a say in times of incapacity and death. Without it, the courts would have the full capacity to dictate your asset management, guardianship for your kids, as well as your health care concerns. Because of this, it is important to ensure a trusted loved one is appointed as your POA. The lawyers at Gage-Michaels law office can assist you through this legal process to help you craft a comprehensive estate plan. Our experienced POA attorneys should be able to give our legal advice to you regarding this situation.
Why do I need a Power of Attorney Lawyer in Wisconsin?
An experienced POA Attorney in Wisconsin can allow you to plan ahead. They can help any principal appoint an agent to represent on their behalf for financial and medical concerns. Our lawyers should be able to give legal help with:
Pinpointing specific Wisconsin laws that can modify your estate planning;
- Suggesting multiple estate planning documents and applications to create a comprehensive plan;
- Considering factors such as assets, family and medical history, among other concerns of the principal.
A properly crafted POA can give us a lot options, including but not limited to:
- Capacity to act during a times of distress;
- Acknowledging proper social security;
- Initiating on high-impact issues in the future.
Our Green Bay Power of Attorney lawyers recommend getting a POA because once you become incapacitated, your loved ones may not be legally allows to represent you in major decisions. Worse, they could be subjected to long probate court procedures that could directly affect your medical or financial standing.
What is a Power of Attorney?
A power of attorney document can allow you to have peace of mind regarding the planning of your financial and medical concerns. No matter what happens to you, your trusted agent can directly manage your medical and financial responsibilities until you can decide for yourself. You can decide if a POA takes effect immediately or once you become incapacitated. Your appointed can help you decide in the following areas:
Management of household expenses such as bills
- Management of your estate and business ventures
- Handling medical concerns such as payment and medical procedures
- Representation in legal concerns or insurance issues
- Tax filing
There are multiple reason why an individual would like this option, from:
- If the individual is too old to be able to make decisions for themselves. This is usually noted in elder law cases.
- A personal accident or health care concern that leads to partial or full incapacity of an individual
- Guardianship for a client’s minor children. This is also used in cases where child support for the minor children is necessary.
If nobody knows the individual’s personal decision when these happen, the rest of his loved ones and the court will have to choose on their own. This leads to a good chance that they could get it wrong.
The POA does not automatically grant your agent everything though. You are still able to dictate the particular scope of their attorney-in-fact authority. The exact scope of their authority is up to you, and will depend on what you need for the situation. With a POA document along with wills and trusts, you are able to make your choices known to your agents that could implement, grant, and carry out your wishes if necessary.
What are the Types of Power of Attorney?
In managing your real estate, multiple types of power of attorneys are available. In the United States, different states have different laws and statutes in place concerning these types of POA. Depending on your context, a specific document can be more useful to you. The most common types are as follows:
Financial Power of Attorney
This power of attorney allows the agent to act for the executor in general financial concerns like banking and real estate management. He or she can help in managing bills, filing for taxes, and caretaking property. This is mainly used for single-time real estate transactions (ex. filing a bank statement).
Durable Power of Attorney
A durable POA is the most common type of POA that clients request. It gets its name from the fact that it doesn’t stop after an individual is unable to decide for themselves. This document has the following perks:
- In cases where the principal is not around, it has more coverage
- The agent can be allowed to access financial concerns from the moment of incapacity to your death
- Allows the agent to do critical decisions but still allows the principal to take over once they are able to decide for themselves
This is primarily used in elder law concerns where the individual is incapable of representing themselves due to old age. Major financial and medical care concerns are covered by their agent in times of need.
Health Care Power of Attorney
This is also usually called the medical power of attorney or a health care surrogate. As the name suggests, the agent is allowed to decide important medical decisions on the principal’s behalf when they become unable to do so. Most people have strong opinions regarding the type of medical procedures they want to undergo. With this POA, you are able to choose an agent who would make choices following your advice.
If you are interested in crafting any of these, our estate planning attorney at Gage-Michaels Law Firm in Wisconsin are sharing our legal expertise to our clients. While setting this up can be a simple process, there are some concerns that will inevitably be complicated. When this happens, it will be much easier if you have an expert POA lawyer to help you along the procedure.
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Due to the uncertainty of the concerns happening around us nowadays, planning for the future is an important aspect that we should look into. A power of attorney can allow anyone to prepare for such concerns. Getting a reliable POA Lawyer in Green Bay, Wisconsin can help you with these concerns.
Join our clients that have their concerns answered and questions resolved. If you are thinking about getting a power of attorney, the attorneys at Gage-Michaels Law Firm will be able to assist you with our robust legal services.
Our lawyers are also experts in the practice area of family law, gray divorce and mediation. We assure you that we are the best lawyers to help you tackle these concerns. Schedule a consultation with us to help you prepare for the future!