Understanding Powers of Attorney
At the law office of Connors and Sullivan Attorneys at Law, PLLC, we provide a broad range of estate planning and elder law services for people throughout New York City, Brooklyn, Queens, Manhattan, Staten Island and the Bronx.
One of the ways that we assist clients with their legal needs is through powers of attorney. A power of attorney is a legal document that designates specific legal authority to another person. The person granted the power of attorney is sometimes called an agent.
There are three categories of powers of attorney: the durable power of attorney, nondurable power of attorney and springing power of attorney. Our firm assists clients with all three types.
The most common power of attorney document we draft at our firm is the durable power of attorney. A durable power of attorney is effective immediately upon its execution and lasts until it is revoked by the person granting the power of attorney.
Why You Should Learn More About Durable Powers Of Attorney
A power of attorney document can have a significant impact on an individual and a family, providing significant financial savings as well as protecting the wishes of a family member in need of assistance.
A power of attorney may be created for someone who is traveling out of state and therefore unavailable to sign important documents. More commonly, however, the durable power of attorney is created to assist an individual in the event he or she becomes unable to make life decisions due to illness or a medical condition.
A power of attorney can provide an agent with the power to make important decisions regarding the grantor’s property, taxes, real estate, gifts and nursing home decisions. Our firm also assists clients with health care proxies, which are designed to clarify a person’s wishes in the event of medical incapacity and inability to make health care decisions.