Power of Attorney Lawyers in Manhasset NY, Helping Your Loved Ones Who Can’t Care for Themselves
Many people only think of wills when they consider their estate planning needs. While a last will and testament is no doubt important, you may be overlooking important tools like powers of attorney. This is a legal document that can ensure your best interests are always accounted for. However, the process can be complex from start to finish. A power of attorney lawyer in Manhasset, NY may be able to help.
At Marchese & Maynard, LLP, our team of New York estate planning lawyers has served our community for years. We understand that proper planning entails more than just preparing for when you’re gone. There are many times when you may be unable to make important decisions while you’re still here, so ensuring your wishes are known in advance is imperative. Schedule a free consultation with our law firm today to learn more.
What Is a Conservatorship?
A power of attorney (POA) is a legal arrangement that grants a specified person the ability to make decisions on behalf of another. This person is referred to as the attorney-in-fact or the agent. The individual granting this power is known as the principal. The authority granted is not absolute. In fact, it typically only pertains to financial and legal matters that may arise. Additionally, the principal specifies when and how the agent can exercise this power.
As you’ll discuss with your power of attorney lawyer in Manhasset, NY, there are many different reasons that a person might choose to create a power of attorney. In the business world, this is often done if an executive leaves the country for an extended period. They’ll typically specify who can make decisions in their absence. However, a power of attorney is more commonly used to safeguard against incapacitating injuries, mental decline, or disease.
Contact our law firm for a free consultation and to learn if a power of attorney is right for you.
Power of Attorney, Healthcare Proxy, and Conservatorship Differences?
People often get confused when they hear the terms power of attorney, healthcare proxy, and conservatorship. While all these legal documents have significant similarities, they’re also very different in their focus. For instance, a healthcare proxy is also created by a principal so an agent can make decisions on their behalf. However, these decisions are of a medical nature rather than legal or financial.
A conservatorship — known as a guardianship in New York — can give a third party authority to make financial, legal, or medical decisions on behalf of an individual. However, this authority is granted by a court rather than the person it focuses on. Unfortunately, you’ll have very little power in choosing a conservator. Creating a power of attorney now is the best way to take control and avoid the potential for a court-appointed guardian.
Speak with our Manhasset, NY power of attorney lawyers today to learn how to garner this legal protection for yourself.
Are There Different Power of Attorney Types?
Regardless of the specifics of a power of attorney, every legal arrangement of this kind will fall into one of two categories. Those categories differ based on when the POA goes into effect. They are known as durable/nondurable and springing. Here’s what to know about each:
- Durable/Nondurable power of attorney: These POA arrangements go into effect immediately. A nondurable power of attorney will end if the principal suffers an incapacitating event. A durable power of attorney will persist even after such an event.
- Springing power of attorney: This POA arrangement will only take effect if the principal becomes incapacitated. Aging individuals often prefer this type since they can maintain control over their decisions until they are no longer able to do so.
While these may seem straightforward, there are actually many complex issues involved. This is why it may be in your best interest to speak with a Manhasset, NY power of attorney lawyer today. And since the Marchese & Maynard, LLP law firm offers free consultations, you have nothing to lose by seeking advice.
Contact a Power of Attorney Lawyer in Manhasset, NY Today
Through expected or unexpected events in life, we may be rendered unable to make important decisions on our own. This can prove detrimental both financially and legally, but fortunately, a power of attorney can provide a way to ensure that you’re still in control. You choose how much power you want to hand over, and this makes a POA one of the most important and useful tools in the world of estate planning.
At Marchese & Maynard, LLP, we understand how important it is to control the high-stakes matters in your life. A power of attorney doesn’t have to be an expectation of the worst. Rather, it can serve as a preparedness tool that safeguards your best interests even when you’re incapable of doing so. Contact us today by calling 516-447-2144 to schedule a free consultation. Our power of attorney lawyers in Manhasset, NY are ready to assist.