Power of Attorney O’Fallon MO
There are times in life when you may be unable to act in your own best interest and on these occasions, there is legal documentation that can allow someone you trust to act on your behalf. An O’Fallon, Missouri power of attorney is such a document and it is instituted by you. The individual who you entrust with this responsibility is designated as the agent or attorney-in-fact. However, there are different types of privilege awarded. When discussing assigning a person to handle your estate and affairs should you become mentally incapable, you are talking about a durable power of attorney. The following is a brief overview. For a more detailed explanation, contact the Legacy Law Center.
Durable Power of Attorney in O’Fallon MO
A durable power of attorney is defined this way because it continues to be effective after the principal or estate holder becomes incompetent. There are several situations that will create this mental incapacity, such as disease or injury. Also, a durable power of attorney will enable someone to make decisions for you in the event of a coma or temporary unconsciousness. While no one wants to consider the likelihood or possibility of such issues, it is better to set up a power of attorney in O’Fallon MO now rather than waiting until it is too late.
How It’s Created
As far as designating someone your financial or medical power of attorney, it can be as simple as filling out the proper paperwork. However, to make someone a durable power of attorney, it is necessary to include precise language and comply with specific state regulations. Therefore, it might be in your best interest to hire an O’Fallon MO estate planning attorney to ensure that all paperwork and filing methods are handled correctly.
When Is It Effective
A durable power of attorney can become effective as soon as it is signed and recognized by the courts, or it can become effective only after an event or illness leads to mental incapacity.
However, there are some specific phrases to look for in each case. If you want an O’Fallon MO power of attorney to take effect immediately, then look for language that specifies that a power of attorney will not be affected by subsequent incapacity, incompetence or disability. If you want it to take effect only after mental incapacity, then watch for language that specifies that a power of attorney will only be effective on the date of incompetence, disability or incapacity.
A durable power of attorney is an excellent way to protect your assets and your wishes in the event of mental incapacity. However, only entrust those you truly trust to take on such a responsibility. Call an experienced probate attorney O’Fallon MO clients recommend from the Legacy Law Center to walk you through the process of selecting and defining your durable power of attorney.