Komorn Law has experience and expertise in all matters of drafting, executing and litigating delegation of responsibilities to other people, also known as a Power of Attorney.
What is a Power of Attorney?
A Michigan Power of Attorney is a legal document designed to appoint another person or company power to manage your affairs in your name. This can be useful in many situations including traveling, healthcare decisions, business management, retirement and estate planning.
Why should I get a Powers of Attorney?
Planning for the future is a way to avoid emergency situations and bad results from those situations. If you are injured or disabled and are unable to pay your own bills, houses and cars maybe foreclosed and repossessed. Or if a family member is diagnosed with a degenerative mental illness, they may be unable to take care of their finances. A Power of Attorney would allow you to be an agent who is legally allowed to sign for their care and bills.
What kind of Power of Attorney do I need?
- Special Power of Attorney or Limited Power of Attorney.
- Medical Power of Attorney.
- Springing Power of Attorney.
- Non-Durable Power of Attorney.
- Durable Power of Attorney.
- Financial Power of Attorney.
- General Power of Attorney.
In Michigan, a Power of Attorney can be very complicated. A general Power of Attorney can afford too many rights to your designated “Agent” (family or friend or organization). A Special or Limited Power of Attorney may be too limited. You can have multiple Power of Attorney enabled at the same time, with multiple different agents to assist you.
Your specific circumstances may require special or multiple Power of Attorney drafts. Let Komorn Law help design a perfect Power of Attorney setup for you.
Confused about a Powers of Attorney?
A Power of Attorney can start immediately , or it can have a triggering effect (also called a springing effect). This triggering of the Power of Attorney can be almost anything. A person who wishes for the Power of attorney to activate only when a majority of their children agree that the person’s mental or physical health has deteriorated for example.
A Power of Attorney can be as large or as small as you need it to be.
A Power of Attorney can also be changed if situations change.
Help! The bank won’t accept my Power of Attorney!
Sometimes only an attorney can persuade or force the bank or other third-party to accept a Powers of Attorney.
A Power of Attorney must be constructed in such a way that state and national companies and government agencies will accept it. There are complicated requirements in order to satisfy the validity and genuine status of a Power of Attorney document. These requirements vary from state to state.
Michigan Power of Attorney rules and laws are updated frequently. A draft that was valid a few years ago maybe invalid today.
When does a Power of Attorney end?
A Power of Attorney is only for a living person.
The death of the person is a complete invalidation of the Power of Attorney, assuming that the designated agent has notification and knowledge of the persons death.
As long as a person remains mentally fit and competent, he or she will be able to revoke and institute a new Power of Attorney.
Problems can arise when giving Power of Attorney to someone you thought you could trust. These people may exploit your Power of Attorney and steal your money if granted access to bank accounts.
It is important to select a person you can trust with your Powers of Attorney. We can help assist you to make sure that your wishes are followed. This is very important in elder law situations. If one family member wants to put you in a nursing home or hospice but it is your wish to stay in your own home, who wins? The person who has prepared!
Be prepared with a Powers of Attorney with the help of Komorn Law today.
