Alabama Power of Attorney
Did you include a power of attorney in your estate plan? There are two important documents you might want to include if you have not already done so. Every estate plan should have an Alabama medical power of attorney and an Alabama financial power of attorney.
While there are many different types of power of attorneys, these two are the most commonly used in connection with estate planning. They should be written as separate documents, not combined into one. You will find the proper forms for your Alabama power of attorneys at Legal Zoom.
These documents need to be "durable" power of attorneys so they stay effective should you ever become mentally incapacitated. The trusted person you have appointed to act as your agent, or attorney-in-fact, would then be allowed to make decisions for you regarding your finances and health care. It is common to include a health care declaration along with your medical POA. This gives clear instructions to your agent and other health care providers as to your wishes.
Your durable power of attorney for finances is comprehensive, it is designed to allow your agent to handle all of your financial affairs at any time you are incapacitated. Your agent would be allowed to make deposits for you as well as manage your retirement accounts, filing tax returns and all other financial responsibilities.
If you name your spouse as your attorney-in-fact, in Alabama, your power of attorney is automatically terminated in the event of a divorce. A divorce usually means taking a close look at your entire estate plan, updating any power of attorneys should be done at this time also.
General power of attorneys and special power of attorneys are often used to give decision making powers to another person. A general power of attorney should cover most any decision that would have to be made for you. Special power of attorneys are very specific with regards to the use. You may have a power of attorney for children, a motor vehicle power of attorney and even a travel power of attorney. These are all very limited documents granting your agent the power to handle certain affairs, usually for a set time frame.
Your personal need for power of attorneys should be discussed with your Alabama estate planning attorney. These simple documents are just another way to help you sleep better at night, knowing all the little things are taken care of.
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