Power of Attorney Georgia
No one wants to consider the possibility of needing the Power of Attorney Georgia. Unfortunately, some circumstances require the assistance of another. In those situations, you can designate someone to have Power of Attorney (POA) over your affairs. This allows that person to make certain healthcare decisions, manage financial matters, and possibly care for your children.
Generally, there are two types of Power of Attorney. A financial POA allows the person to manage the monetary decisions of another. The other POA handles their healthcare/medical decisions. Georgia code provides a general medical power of attorney form.
The process for filing a Power of Attorney document is relatively easy and inexpensive, and they can be a necessary component of your estate plan. In order to authorize a trusted friend or loved one to act on your behalf, you should retain a skilled estate planning lawyer with expertise in Georgia law like the Law Office of Paul Black.
Understanding the Georgia Power of Attorney Statute
In 2017 the Georgia Power of Attorney Statute by way of House Bill 221 created the Uniform Power of Attorney Act (UPOAA). The UPOAA added a new Chapter beginning at Code Section 10-6B-1 to the Official Code of Georgia’s Title 10.
The most significant changes to the code include the following:
- It provides a path to force third parties like financial institutions, to honor a Power of Attorney Georgia.
- It provides better protection against agents misusing POAs or taking advantage of people with cognitive function impairments.
The UPOAA has the potential to affect many Georgians, as it addresses several concerns. It’s recommended to discuss your plans with a law firm experienced in Georgia elder law cases.
What Does a Durable Power of Attorney Georgia Do?
A “durable” power of attorney Georgia refers to a document found here that remains binding even if the principle becomes incapacitated. It is, in fact, durable and allows you to continue making decisions if something happens to you.
Without a valid power of attorney Georgia, you may require a costly court visit to determine a guardian or conservator to handle your financial or medical decisions.
Georgia Durable Power of Attorney Types
There are two types of Georgia durable power of attorney. The “present” durable power of attorney goes into effect immediately. A “springing” or “future” POA transfers decision-making to the designated individual when a doctor determines that a disability is present.
GA Durable Power of Attorney
Someone selected to have GA durable power of attorney is called an “attorney in fact.” Authorizing a POA satisfies the following:
- Allows you to choose who will make decisions for you
- Goes into effect immediately upon disability
- Ensures your wishes are precisely followed
Although anyone can be chosen, a spouse, a close friend, or a loved one is often designated to make decisions as your power of attorney Georgia.
Financial Power of Attorney Georgia
A representative with a financial power of attorney Georgia is only authorized to handle the monetary tasks specified on the POA. Therefore, if a particular responsibility is not listed on a power of attorney Georgia, the agent is not allowed to make decisions regarding it.
A limited POA, as found here, may not list all of the powers your representative may need, making it insufficient for some estate planning purposes. Your financial POA must be drafted by a qualified lawyer to ensure your estate is safe in any circumstance.