Do you need a power of attorney but are not sure where to start? In this article, you will find the most commonly asked questions about the POA process and how to get started.
Frequently Asked Questions About Power of Attorney
What is power of attorney?
Power of attorney is a legal document that gives one person (the agent) the power to make particular decisions for another person (the principal).
What is the purpose?
Some people use a power of attorney to allow the agent to handle financial affairs or run a business on their behalf for a period of time. Other POA documents only come into effect if the principal becomes physically or mentally incapacitated and cannot function or make decisions on her own.
What is the difference between general and limited power?
A general power of attorney allows the agent to complete a variety of transactions on behalf of the principal. A limited power gives the agent the power to perform only a specific transaction or act such as completing a purchase or making an investment.
How do I obtain Texas power of attorney forms?
- Step 1: Determine which type of POA you will need.
- Step 2: Download the Texas Medical Power of Attorney disclosure statement form. You can find this on the Texas Medical Association website. Then download, complete, and print out the Texas Medical Power of Attorney form.
- Step 3: Take this form to a notary public to have it notarized. All signatures need to be made in the presence of the notary. You will need two witnesses, one of which must be an individual other than the agent, relative of the principal, doctor, or beneficiary.
You are encouraged to hire a lawyer to assist you with the POA process. If you have any questions, you can find answers online and/or through a lawyer. In fact, in a recent poll, 44% of respondents said that they are very to somewhat likely to check a lawyer’s website for information. Nearly half (49%) were very or somewhat likely to consult websites where consumers can post legal questions for lawyers to answer. Fortunately, 52% of lawyers in solo practices and 81% of those in offices have websites.