How Can I Get Power of Attorney Over a Loved One?

A power of attorney is the right of someone to act for another.  A power of attorney is given, not taken.  The person who gives the power of attorney is called the “principal” and the person appointed is the “agent” or “attorney in fact”.  The agent does not acquire a power of attorney by something they do, instead,the principal must voluntarily sign a document to grant a power of attorney to the agent, and the documents must be signed when the principal is competent to do so.

There are two general types of power of attorney:  financial and medical.  In Texas, the financial power of attorney is generally titled a “Statutory Durable Power of Attorney.”  The medical power of attorney has a much more logical name – a “Medical Power of Attorney.”  The agent appointed under either document does not have power over the other realm, so a financial agent does not have say over medical decisions and vice versa.  It requires both documents to properly grant full powers to an agent to make all decisions.

Granting a power of attorney is not giving away the rights of the principal.  The principal is not saying they cannot handle their matters.  The principal is appointing someone in case of need; therefore, every adult person who has assets should sign a financial power of attorney.  Every adult person, without exception, should sign a medical power of attorney. These are not documents that you wait until there is a need to get drafted and signed.  It may be too late at that point, and the only legal option becomes a court created guardianship, which is expensive and cumbersome.  Click here to read more about guardianship.

Powers of attorney are not documents that you wait until there is a need to get drafted and signed.  It may be too late at that point and an expensive and intrusive guardianship becomes the only option.

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, specific tax, legal or accounting advice. We can only give specific advice upon consulting directly with you and reviewing your exact situation.