Mississippi Power of Attorney
Does your estate plan include a Mississippi power of attorney? They are valuable tools that need to be closely examined, if you haven't already. Maybe you have been working with a Mississippi estate planning attorney and have already taken care of these important documents.
Your attorney has probably suggested several different powers of attorney be included in your estate plan. The two most important ones would be a springing durable medical power of attorney and a springing durable financial power of attorney.
When working with MS power of attorney forms the person you are assigning power to is your attorney-in-fact. A durable power of attorney is one that remains effective if you are mentally incompetent. A springing durable power of attorney is one that is only effective when a doctor declares you mentally incapacitated, possibly after an accident. Your attorney-in-fact would then have immediate authority to make decisions for you regarding health care and finances.
A non-durable, or normal power of attorney is one that will become void if you are ever mentally incapacitated. These types of powers of attorney are used for many day to day functions and there are two basic types. There is a general power of attorney that grants your attorney-in-fact a wide range of powers, then there are the specific powers of attorney that grant limited power.
Having your spouse as the attorney-in-fact on a general power of attorney could be a very useful document to for any unforeseen emergency. While may think everything you own you do so jointly that is not always the case. This power of attorney is a way of making sure you both have the same access to accounts, retirement funds, property and anything else. A general power of attorney might also be used if you were leaving the country on a trip and wanted someone at home to be able to handle any emergency for you.
Limited powers of attorney are used for things like selling vehicles and real estate. A power of attorney for minor children is a way of making sure whoever is watching your kids can authorize medical treatment if an accident were to happen.
Mississippi power of attorney forms are available at Legal Zoom and can normally be filled out without the use of an attorney. Be very careful, however, when dealing with the durable powers of attorney. You will be mentally unsound and unable to draft a new one by the time you find out you made a mistake.
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