Powers of Attorney: What to Know

At the core of any good estate plan, you’ll likely find a trust. Think about this, who do you trust with making decisions in your best interest when you are unable to do so yourself. Family members and friends might be the first things to come to mind. No matter who you decide, the person you select receives full authority for making important decisions on your affairs. Therefore, the person you choose should be someone that knows you well and is knowledgable about your wishes. This document appoints the person of your choice to manage your personal affairs when you are unable to do so due to sickness or another reason. By creating this document now, you’ll attain peace of mind with the knowledge you’ll receive assistance from someone you trust, rather than a stranger. The Fetty Firm is fully capable of helping clients draft this document and making sure it’s validated in Texas courts. Generally speaking, there are three types of power of attorney:

• General Power of Attorney – This type of power of attorney gives the chosen individual full control over all affairs
• Specific Power of Attorney – There is an option where the designated individual can act on your behalf only in certain circumstances
• Medical Power of Attorney – The designated individual makes medical decisions on your behalf when you’re not able to so

What to Know

Under Texas law, the individual appointed to manage your affairs has extensive authority. Here are some of the powers the designated individual will have:

• Opening and closing bank accounts on your behalf
• Withdrawing money from your bank accounts
• Selling your property without having to notify you first

Keep in mind that this is merely a partial list. When choosing someone for your general power of attorney, you’re essentially allowing someone to decide on matters you’d normally manage yourself. Furthermore, this is only a general overview of the powers of attorney. For more information on this and other family law matter, contact The Fetty Firm at your earliest convenience. You can reach us by calling (214) 546-5746. Moreover, click here to set an appointment.