Chat Live
Power of Attorney
Creating a Power of Attorney is one of the most important elements involved in planning your estate. This legal document allows you to give another person the authority to handle your finances and make business decisions on your behalf. An experienced estate planning lawyer is able to guide clients through the process of drafting a Power of Attorney.
The Power of Attorney names a representative to act on your behalf. Without a Power of Attorney, in the event you become incompetent to handle your own affairs, it may be necessary for the Court to appoint a guardian or conservator, which is a long and costly process, and, in the end, the Court may not choose the person you would have preferred.
A Power of Attorney can be limited or general. A limited Power of Attorney gives someone the power to act on your behalf in particular situations and for specific periods of time. For instance, you could give someone the power to sign a check for you if you are going out of town. On the other hand, a general Power of Attorney is more broad and comprehensive, giving the person all the rights and powers you would have yourself.
A Power of Attorney can be Non-durable or Durable. A Non-durable Power of Attorney becomes ineffective once your doctor signs a statement saying that you are no longer competent to handle your business affairs. A Durable Power of Attorney remains effective in the event that you are no longer competent to handle your business affairs.
Furthermore, a Power of Attorney can give your agent the authority to act on your behalf immediately, or it can provide that your agent’s authority only becomes effective if your doctor signs a statement saying that you are no longer competent to handle your business affairs. The later is known as a “springing” Durable Power of Attorney.
If you are interested in a Power of Attorney, call the Albany office of Tully Rinckey PLLC 24 hours a day, seven days a week to speak with an estate planning lawyer at 518-218-7100.
The most popular City / Village / Town Courts our lawyers serve:
Albany, Altamont, Amsterdam, Berne, Bethlehem, Brunswick, Clifton Park, Cohoes, Colonie, Coeymans, Delaware, Duanesburg, East Greenbush, Fulton, Glens Falls, Glenville, Gloversville, Grafton, Greene, Guilderland, Hoosick, Hudson, Johnstown, Malta, Mechanicville, Menands, Montgomery, Nassau, New Scotland, Rensselaer, Rensselaerville, Rotterdam, Saratoga, Schenectady, Schoharie, Schodack, Scotia, Troy, Ulster, Voorheesville, Warren, Washington, Watervliet
“Professional and Supportive” – T.M.
I would like to take this opportunity to express my gratitude to my attorney, Doug Rose. I have been a client of Tully Rinckey for two years, working with Doug on my case. During that time, I have found Doug to be …
“Thank You For All Your Help” – K.L.
“Thank you for all your help, Barb. You are terrific and I will exuberantly tell anyone looking for the best lawyer about you!” – K.L. on Partner Barbara King
“Excellent Job Representing my Interests” – M.C.
“Theresa did an excellent job representing my interests. First and foremost, she is knowledgeable, articulate and responsive. In addition, she was patient and empathetic. Theresa understood the many levels of frustration I experienced over the course of the past 3 months. …
Read All
Capital District Senior Spotlight: Legal Chat
Q: I’m in the process of drafting my will and am stuck on the question of naming an executor. I’m inclined to name my wife, but she is not very sophisticated when it comes to finances. Does it matter? A: …
Preparing Now for the Long Term
Irving and Myrna Richman bought long-term care insurance policies in the 1980s. Although they expected to retire with a few million in assets, they wanted to make sure their estate was secure for their daughter. Myrna paid premiums on her …
Double Toll in Albany Fire Tragedy
An Albany woman who suffered a massive heart attack hours after learning that her husband was killed in a fire has died. Elizabeth Jaggers died Sunday at Albany Medical Center, where she had been on life support, Albany police confirmed. …
Read All
Family Health Care Decisions Act Finally Takes Effect
On March 16th 2010, the Family Health Care Decisions Act was signed into law by Gov. David Paterson and it will change and reform how medical care decisions are made for those that are incapacitated and do not have a …
Importance of Elder Law Attorneys
Many elderly persons rely entirely on their children, family members or other trusted individuals to help them. This dependence upon caregivers or family members can sometimes backfire and make an older person more vulnerable to abuse and financial exploitation. Legal …
Read All
Medicaid Planning Seminar – May 10, 2011
Topics to be covered include: Updates in Medicaid Eligibility and Application Process Long Term Care Insurance Health Care Proxy Planning for Veterans Power of Attorney Presenters: Tully Rinckey PLLC Elder Law attorneys Date: May 10, 2011 Time: 6:00–7:30 PM Location: …
Warmth of Wine – Tully Rinckey Helps Local Seniors Stay Warm – March 3, 2011
With heating costs expected to rise as much as 15% this year, Tully Rinckey PLLC is proud to announce the law firm is stepping up to support a cause that helps Capital Region seniors stay warm. The firm is sponsoring …
Arthritis Foundation Health / Wealth Day – May 7, 2007
Arthritis Foundation Health / Wealth Day: Wills, Trusts, Advanced Directives, Long-term Care and Medicaid Date: May 7, 2007 Time: 9:30am-2:30pm Location: The Desmond, Albany, NY More Info: 518-218-7100 or www.arthritis.org
