Denver Power of Attorney Lawyer

Power of Attorney for Financial & Property Decisions

Power of attorney is a legal agreement through which one party appoints another to act on their behalf in certain situations. It is a common estate planning tool that can be useful in many situations, including when an individual is incapacitated or traveling away from home. With a power of attorney, an individual can designate someone they trust to handle financial and property issues on their behalf.

Denver residents should contact a lawyer at Osterman Law Firm to set up a power of attorney that is customized to their specific needs.

Call our office at (303) 500-8633 or contact us online to speak to an attorney today.

What Does a Power of Attorney Do?

Power of attorney can be set up to cover specific circumstances or it can be a general document that covers a range of possible events. There are two types of power of attorney: durable and springing. A durable power of attorney stays in effect as long as the individual who has been appointed as the attorney in fact is alive, while springing power of attorney only comes into effect if the individual who has been appointed as the attorney in fact becomes incapacitated.

When to Set Up a Power of Attorney

Power of attorney is a valuable estate planning tool that can be useful in many situations, including when an individual is incapacitated or traveling away from home. It can also be useful if someone is going to be absent for an extended period of time. A power of attorney can be set up to cover specific circumstances or it can be a general document that covers a range of possible events.

In addition to the two types of power of attorney, there are three ways that a power of attorney can be set up:

• POA with Property — This type of power of attorney includes the authority to handle financial and property issues. It is a good option for someone who wants to give someone the ability to handle both financial and property issues.
• POA without Property — This type of power of attorney does not include the authority to handle property issues. It is a good option for someone who wants to give someone the ability to handle financial issues but not property.
• POA for Health Care — This type of power of attorney does not include the authority to handle financial or property issues. It is a good option for someone who wants to give someone the ability to handle health care issues but not financial or property issues.

How to Set Up a Power of Attorney

Power of attorney can be set up in a variety of ways. It can be set up during a meeting with a lawyer, or it can be set up through a document that has been notarized. If a document is set up through a meeting with a lawyer, the lawyer will explain the options for the power of attorney and help the individual who is creating the power of attorney decide on the best options for their situation. The lawyer will also explain the requirements for creating a valid power of attorney.

The individual who is creating the power of attorney should choose a trusted individual.

Contact an Attorney

While choosing and setting up a power of attorney may seem simple, there are complexities to it that could benefit from the help of an attorney. An attorney will understand the laws surrounding estate planning, powers of attorney, and more. 

If you're looking to set up a power of attorney, contact the Osterman Law Firm online or call us at (303) 500-8633 today to learn more about how we can help you!