Durable Power of Attorney

Granting someone power of attorney is a great way to keep your affairs in order if you’re incapacitated. Should the unexpected occur, there must be clear direction provided to individuals who will be responsible for making important decisions regarding your finances and medical care. Through advance directives and powers of attorney, you can dictate who will take charge of the decision-making.

• At Sheppard Law Offices, our trusted Columbus estate planning lawyers are knowledgeable in a wide range of practice areas, including estate planning law, bankruptcy, taxation, probate, divorce, and family law.
• We are committed to serving our community and helping clients in Columbus, Mount Vernon, and Newark make proactive decisions that have provided them with peace of mind for the future.
• Our legal team is dedicated to offering experienced legal guidance and support in estate planning-related matters, including powers of attorney.
• We thoroughly analyze every detail to craft solid legal strategies that are aimed at results while remaining in compliance with Ohio law.

If you are considering establishing a power of attorney, we can listen to your specific goals and objectives and determine which power of attorney can be utilized to best suit your needs. Schedule a free consultation with us today to learn more about effective estate planning strategies.

What is a Durable Power of Attorney?

A power of attorney (POA) allows you to appoint an agent or attorney-in-fact who can represent you in legal matters. It provides you with security, giving a person of your choosing the power to act for you. This type of power of attorney is intended to avoid the necessity of a costly and lengthy court proceeding to have a guardian appointed in the event you are no longer able to handle your own affairs.

When a power of attorney is “durable,” it means your agent’s authority continues if you become incapacitated. By giving someone legal authority to make important decisions for you in the event of an emergency, you spare your family, and yourself, considerable stress. A credible durable power of attorney lawyer in Columbus OH can help you understand the importance of establishing a POA.

What Are the Types of Durable Power of Attorney?

There are many reasons why people appoint a power of attorney. Not every POA grants the same powers to your agent.  In terms of durable powers of attorney, it is classified into two categories – healthcare decisions and financial decisions.

Your choice of power of attorney will depend on your specific needs. In some cases, many people create both powers of attorney as part of their estate plans. Our knowledgeable Columbus durable power of attorney lawyer can help you determine the type of POA required for your specific situation.

Durable Financial Power of Attorney

A durable financial power of attorney is a legal document an individual (the principal) can use to appoint an agent to act on his or her behalf regarding personal, financial, and business matters. The main reason to establish a durable financial power of attorney is to keep your finances safe if you are unable to manage them yourself.

Financial powers of attorney are also important for business owners. This legal document would make sure business operations are up and running and payments are made on time in your absence. There are many key functions a financial power of attorney can serve, including:

• Paying your bills, medical expenses, and taxes on time
• Running your small business in your absence
• Completing financial transactions while you are out of the country
• Managing your real estate assets, retirement funds, and investment accounts
• Transferring or selling your property/assets
• Collecting benefits from Social Security, Medicare, or other government programs or civil or military service
• Investing your money in stocks, bonds, and mutual funds
• Claiming a property you inherit or are otherwise entitled to
• Buying and selling insurance policies and annuities for you

Durable Healthcare Power of Attorney

A durable power of attorney for health care grants a named agent or attorney-in-fact the authority to make critical health care decisions if you become incapacitated. There are many reasons to establish a healthcare durable power of attorney. If you have recently been diagnosed with an illness that may lead to an inability to make decisions for yourself, then appointing a power of attorney is necessary to avoid a court-appointed guardian.

This type of durable POA is meant to have your best interests when making your medical decisions, and many people choose close family or friends as an agent. This includes the authority to your decisions regarding:

• Medical treatments​
• Hospital admission
• Home health care
• Nursing home or assisted living admission

What Are the Legal Requirements of a Durable POA in Ohio?

Every state has different rules regarding power of attorney. While the general process is the same, there may be specific terminologies and provisions you need to be aware of depending on where you live. For your POA to be valid in Ohio, it must meet certain requirements. Having an experienced Columbus durable power of attorney lawyer behind your POA is the best way to ensure its validity and compliance with Ohio law.

Mental Capacity

To create a legally valid durable power of attorney, you must be an adult of sound mind. Those making POAs must understand the nature, scope, and extent of their transactions. A durable healthcare power of attorney takes effect when your doctor declares that you lack the capacity to make your own medical care decisions.

Notarization Requirement

In Ohio, you are not required to notarize your POA. However, notarization is strongly recommended. When you sign your POA in the presence of a witness and a notary public, your signature is presumed to be genuine under Ohio law.

Call Our Seasoned Columbus Durable Power of Attorney Lawyer Now!

While many people may think that a power of attorney is something you only need to think about as you make end-of-life plans in your old age, that is not the case. People of all ages can benefit from establishing a durable power of attorney.

Whether you need a comprehensive estate plan or just want to complete a power of attorney document, our skilled Columbus durable power of attorney lawyers at Sheppard Law Offices are here for you. We can help you build an effective estate plan that protects your investments, assets, your family’s future, and best interests. Our estate planning law firm can guide you through the legal process of drafting your power of attorney and work diligently to address your needs and concerns.

We have been trusted by numerous clients to lead them through their power of attorney decisions. Contact our law office now and schedule a free initial consultation with our Ohio estate planning lawyers to discuss your estate planning needs and goals.