Many times someone may not be able to care for themselves and, due to accident, age or illness. They may also not be able to make certain decisions regarding their lives. In a situation such as this it may be beneficial to draft a Pennsylvania Power Of Attorney, or POA. These are very important estate planning documents that should only be drafted by an experienced estate planning attorney.
Establishing A Pennsylvania POA
In the Commonwealth of Pennsylvania a power of attorney (P.O.A.) is a legally binding document that lends corroboration to the relationship between two parties or people. These people are designated ‘principal’ and ‘agent’. The POA allows the agent to act on behalf of the principal legally. The power of attorney can be drafted for very general purposes or it can be tailored to serve a very specific purpose. The power of attorney will explicitly outline what business, medical or financial transactions and activities the agent may engage in on behalf of the principal.
A Pennsylvania Power Of Attorney typically allows the agent to perform regular activities such as paying bills, balancing checkbook, managing investments, properties and making medical decisions.
Types Of POA’s In Pennsylvania
In Pennsylvania there are several types of POA’s. They are:
1) Durable Power of Attorney
2) Financial Power of Attorney
3) Medical Power of Attorney
4) Simple Power of Attorney
5) Springing Power of Attorney
Each of these POA’s serves a different purpose and consulting with our Philadelphia estate planning attorneys handling POA’s is a wise move. They will thoroughly analyze your situation and needs and help you choose the best option for you.
Contact A Philadelphia Estate Planning Lawyer
If you have questions or concerns regarding a Pennsylvania POA please call our Philadelphia, Pennsylvania estate planning lawyers. They can be reached via email here. With many years handling estate planning and power of attorney cases they have the skill and experience to help you.
Our PA estate planning lawyers serve those throughout Southeastern Pennsylvania. This includes areas such as Abington, Blue Bell, Bristol, Broomall, Chester, Doylestown, Lower Merion, Media, Norristown, Philadelphia, Upper Darby, Upper Dublin, Upper Merion & Upper Providence.