Fairfax, VA Power of Attorney Lawyer

When a person experiences an unexpected medical emergency, a serious illness, or other issues that may affect their ability to manage their finances and address personal concerns, they and their family members can be put in a difficult situation. Family members may have no legal authority to make decisions on a person's behalf, and they may need to take steps to establish guardianship to make sure these issues can be addressed. However, these problems can be avoided by creating a power of attorney, which can provide someone with the legal authority to act when assistance is needed.

Power of attorney agreements can be an important part of an estate plan. While a power of attorney may be used in situations where an elderly person or someone with a long-term illness needs assistance, it can also be used to address temporary issues that may arise due to concerns such as a person's hospitalization or recovery from an accident. With proper planning, a family can make sure financial matters and other issues will be handled correctly if a person becomes incapacitated.

The team at Robinson Law, PLLC works with families in Fairfax and the surrounding communities to create power of attorney agreements and other estate planning documents that will meet their needs. We can help clients make sure the powers granted through these documents are clearly defined and legally enforceable. We will make sure clients understand the options that are available and take steps to address their needs.

What a Power of Attorney Can Address

A power of attorney is a legal document that authorizes another person to act on behalf of the person creating the document. The person who creates a power of attorney is known as the principal, and the person who is granted authority is known as the agent or attorney-in-fact. The authority that may be granted can vary depending on the decisions made by the principal and the terms that are included in the power of attorney.

Under the Virginia Uniform Power of Attorney Act, found in Virginia Code § 64.2-1600 et seq., powers of attorney may address a variety of financial and legal responsibilities. They may provide an agent with authority related to:

• Banking Transactions: The agent may be authorized to manage the principal's bank accounts and handle financial transfers.
• Real Estate Matters: The agent may take steps to buy, sell, lease, or manage real estate property on behalf of the principal.
• Business Operations: The agent may have the authority to oversee and manage a business.
• Investment Management: The agent may handle transactions related to stocks, bonds, and other investments or determine how the funds in the principal's retirement accounts may be used.
• Tax Matters: The agent may file tax returns and handle tax payments and refunds.
• Insurance Claims: The agent may manage the principal's insurance policies and file claims on their behalf.
• Government Benefits: The agent may apply for Social Security, Medicare, or other benefits and make sure these benefits are used to meet the principal's needs.

In some cases, a power of attorney may be limited to a specific purpose, such as authorizing an agent to sign documents on behalf of the principal during a real estate closing. However, when powers of attorney are created as part of an estate plan, they will often provide an agent with ongoing authority over financial matters, ensuring that these issues can be handled correctly if the principal becomes incapacitated.

In addition to financial powers of attorney, many people create advance medical directives, which can serve a similar function, giving someone the authority to make decisions about a person's healthcare and medical treatment. These documents can work together as part of a comprehensive estate plan.