A power of attorney (POA) is a useful legal tool that allows someone else to make key decisions on your behalf. POAs are an essential part of estate planning. Nonetheless, there are several different types of POA, with each serving specific purposes. It’s important...
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Powers of Attorney
Why powers of attorney are essential for long-term care
The decision to place an aging parent in a long-term care facility can make you feel guilty. It’s also filled with a mix of emotions, from concern for their well-being to worries about the financial and logistical burdens. In this emotionally charged time, it’s...
What are the duties and limits of a financial power of attorney?
A financial power of attorney (POA) in Tennessee is a legal document that grants an individual, often referred to as an agent, the authority to make financial decisions on behalf of another person, known as a principal. This arrangement can be beneficial when a...
Is a power of attorney better than written instructions?
When creating an estate plan, people sometimes consider writing down medical instructions for their loved ones. They may stipulate in an advance directive, for example, that they don’t want to be kept on life-support. Some people have very specific desires for the...
2 types of powers of attorney to consider
There’s a lot to consider when planning your estate. You’ll have to decide who inherits from you and who’s assigned as the executor of your estate. Wills aren’t just about asset distribution, however. You may also include one or more powers of attorney. The person...
What estate planning documents does your 18-year-old child need?
Once a child turns 18, they’re legally an adult. That means their parents no longer automatically have authority over their medical care. If they’re in an accident or fall ill, you wouldn’t have the right to even get information about their condition under the Health...
What are your responsibilities as a power of attorney agent?
Many Tennessee residents take the important and wise step of appointing power of attorney agents as part of their estate plan. Hopefully, if a loved one appointed you to this role, you and the person were able to discuss what this would entail. If not, you do not have...
What will happen to your finances if you’re incapacitated?
Many people focus their estate planning on what’s going to happen when they pass away. They don’t realize that there’s an entire component of estate planning that can help if they become incapacitated. One of the best tools available is a financial power of attorney...
Do Nashville residents really need powers of attorney?
The simple answer to that question is that every Nashville resident does need these documents. Powers of attorney serve an important purpose as part of an estate plan. They protect individuals who become incapacitated through injury or illness. Perhaps more...