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.
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“Thank you for helping me with my Real Estate needs. I will be using your Law Firm in the near future to write out my will.” - M.W. on Partner Graig Zappia
Lincy Jacob was dedicated to my case. I was treated with respect at all times. I was made to feel as if I was one of her most important clients. She was highly professional, committed and showed compassion for my …
“He was very attentive, took notes, and re-addressed our main issues several times. He gave us three or four options and we talked through them all, prioritized, and executed. Remarkably, he answered his own phone most of the time.” - …
Albany, NY Lawyer Graig Zappia comments on New York State’s new gun control laws recently signed by Governor Cuomo, more specifically the call for mental health providers to report potentially dangerous patients.
Tully Rinckey’s Graig Zappia stops by WGNA for the Ask the Lawyers segment and provides legal guidance for listeners on wills, title insurance and working overtime without getting paid.
Albany, NY Estate Planning attorney Graig Zappia of Tully Rinckey provides estate planning advice to CBS 6 viewers after a downstate Assemblyman is proposing a bill that would require people to appoint a social media proxy, or executor, in their …
By Greg T. Rinckey Q. Am I allowed to refuse to accept something that a relative left me in his will? A. Tax and creditor concerns are common reasons why beneficiaries would want to renounce or refuse interest in property …
By Greg T. Rinckey Q. My late grandfather’s will includes some instructions that are ambiguous. Depending on how you read it, either my sister or I should receive his antique cars. What do you do when a will has ambiguous …
By Greg T. Rinckey Q: Shortly before my father passed away, my sister talked him into leaving me out of a trust he initially created for both of us. What can I do so I don’t get left with nothing? …
Introduction to Article 81 of the Mental Health Law: Understanding Guardianship Proceedings – May 21, 2013
Presenter: Jennifer J. Corcoran, Esq. Date: May 21, 2013 Time: 6:00-7:00 p.m. Skills: 1 CLE Credit Hour Click here to view Jennifer’s biography. Unable to join us in Albany? Join us online via webconference. *Please note that newly admitted attorneys …
Presenter: Tully Rinckey PLLC Estate Planning attorney Time: 6:00-8:30 p.m. (half-hour break in the middle) Credits: 1 – Ethics and Professionalism RSVP is required as light fare and nonalcoholic drinks will be provided.
Date: March 12, 2008 Time: 5:30 pm Location: Holiday Inn, 946 New Loudon Road, Albany NY 12110 More Info: (518) 218-7100