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    Estate & Probate » Estate Planning » Power of Attorney

    Oklahoma City Power of Attorney Lawyer

    Jim A. Lyon handles complex estate matters

    The purpose of a “power attorney” is so that if a person becomes incapacitated, another individual can make sure that his or her wishes are carried out after a mental illness or physical disability. When individuals are unable to make decisions on their own behalf, another trusted individual is designated to make decisions on the incapacitated person’s behalf. To make an effective power of attorney document, individuals often find it essential to contact a skilled estate planning lawyer in Oklahoma City.

    The difference between powers of attorney

    There are financial powers of attorney and health care powers of attorney.

    Financial powers of attorney designate which individual has the authority to make financial decisions in case that person becomes incapacitated. Financial powers of attorneys can either be limited in scope or give a designated person a broad range of powers over the incapacitated person’s financial affairs. Financial powers of attorney can also be limited in duration or infinite.

    Healthcare powers of attorney grant a designated party with the ability to make healthcare decisions on behalf of a person who becomes incapacitated. Like financial powers of attorney, medical powers of attorney can be broad or limited in nature.

    A durable power of attorney gives an individual the authority to make decisions for a person when that individual becomes incapacitated. Durable powers of attorney, however, do not terminate when the person becomes incapacitated and only end when that individual dies. As a result, durable power of attorney documents must be put in place before that individual becomes incapacitated. These documents must state that they will not be affected by the disability or incapacity of the person who creates the document.

    General vs. limited powers of attorney

    A power of attorney can be either general or limited in nature. There is no universal answer about which option is better. Instead, depending on the facts in a person’s case, an individual might find either is a better option.

    A limited power of attorney grants a limited type of power and often lasts for a specific period of time. These powers often expire at a specific time and if no termination is specified, then the power will automatically end when the creator either dies or becomes incapacitated.

    A general power of attorney grants a wider range of powers to the designated party. A person who is granted these powers has the ability to do whatever the creator was able to legally do for him or herself. It is critical that individuals who grant general powers of attorney give significant thought to granting such a wide range of powers to an individual. With a general power of attorney, the designated party is granted the authority to buy and sell property, mortgage property, and open or close accounts in the incapacitated person’s name.

    Consult with expert counsel

    The Jim A. Lyon Law Firm stands ready to help you create a potent power of attorney document. If you would like information about how our law office can help you, call us today.

    Tell us about your case

      Ethan Moran
      Ethan Moran
      09:36 28 Dec 22
      To my wife and I, our probate case was complicated. Not to Jim! He made it look so easy, and his attention to detail is incredible. Highly recommend to anyone seeking an estate planning lawyer.
      Philippe Joshua
      Philippe Joshua
      17:56 30 Nov 22
      Jim's firm was referred to me by a friend who knew I was looking for an estate planning lawyer. I can't say enough good stuff about him. He's genuine, thorough and highly skilled. Strongly recommend.
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      Estate & Probate » Estate Planning » Power of Attorney