In the event you become unable to make decisions about your own medical care, due to illness, injury, advanced age or some other reason, having the right legal documents in place can be a lifesaver. Simply writing down your wishes ahead of time may not be enough because you cannot anticipate every situation. You also need to select someone you trust to manage your care, instead of relying on a doctor, estranged relative, or even a judge, none of whom are likely to be aware of your preferences. … [Read more...] about 6 Things You Need to Know About a Medical Power of Attorney in Nevada
One of the most important estate planning tools in Reno, Nevada is the durable power of attorney. This tool makes it possible for you to choose someone you trust to handle your affairs in the event you become incapable of doing it yourself. The “principal” is the person who signs and executes the power of attorney. The person designated to act on behalf of the principal is known as the “agent” or the “attorney-in-fact.” A durable power of attorney is a specific type of power of attorney that … [Read more...] about Durable Power of Attorney in Reno: What Are Its Advantages?
Living Trust vs Power of Attorney? The answer may surprise you. In order to create a comprehensive estate plan, you actually need both. Estate planning is much more than simply transferring your assets to your loved ones when you die. Although both a living trust and a power of attorney essentially provide the same benefit, a way to manage your affairs when you are incapacitated, most comprehensive estate plans include both. The living trust grants powers over the trust property A living … [Read more...] about Living Trust vs Power of Attorney
Advanced Directives in Nevada from Brad Anderson Under Nevada law, you have the right to make decisions regarding the use of life-sustaining treatment, as long as you are competent to do so. Learn more about advanced directives in Nevada in this presentation. … [Read more...] about Advanced Directives in Nevada
As many people have realized, even a properly prepared and executed power of attorney can be rejected or question by a third party, such as a bank or insurance company. Those entities may demand proof that the power of attorney is still valid or may reject it as “stale” because it was executed too long ago. Power of Attorney Abuse There was a time when these legal documents were rarely challenged. They were rarely exploited, as well. Unfortunately, the number of cases of adult children … [Read more...] about Is My Bank Required to Honor A Power of Attorney in Reno?
An agent is someone who is designated to manage the affairs of someone else. In a power of attorney, their authority usually extends to the management of finances or health care decisions. The person who creates the power of attorney and designates the agent is known as the “principal.” Once an agent accepts the authority given to him or her under the power of attorney, a legally binding relationship is created between the agent and the principal. With that relationship and authority comes … [Read more...] about How does an agent use a power of attorney?
A power of attorney is a legal document giving an agent the authority to act on someone else’s behalf. In Reno, Nevada, the person creating the power of attorney is known as the “principal,” and that person chooses a person who may act on their behalf called the "agent." A power of attorney is frequently used to bestow power and authority to the agent to handle the principal's financial and/or medical decisions. Even though a power of attorney in Reno can be very useful, as with most things, … [Read more...] about What are the Disadvantages of a Power of Attorney in Reno?
A power of attorney(POA) is a legal document that gives someone you have chosen the authority to act on your behalf. In Reno, Nevada, the person who creates the power of attorney is called the “principal.” The person you choose to act on your behalf is called the “agent,” or the "attorney-in-fact." Two types of powers of attorney in Reno are most commonly used. One to handle medical needs and the other to manage financial needs. For example, you could create a power of attorney to give … [Read more...] about Reno Power of Attorney
There are different types of powers of attorney. They each have their own purpose and transfer varying levels of authority to the agent. A “durable” power of attorney stays in effect even after you have become incapacitated. Any other type of power of attorney will terminate automatically if you lose your mental capacity. Common examples of durable powers of attorney are ones that relate to financial or medical affairs. According to the statutory law in Nevada, an “agent” (sometimes referred … [Read more...] about Who Can Serve as an Agent Under a Power of Attorney in Reno Nevada?
Planning for the future sometimes involves considering uncomfortable topics such as mental or physical incapacity. To prepare for this eventuality you will need to select an individual who can handle your financial and medical affairs. If you have established a revocable living trust your successor trustee would be in a position to manage your assets in trust. A durable power of attorney would authorize the agent that you select to manage your assets that you own that are not in trust. The … [Read more...] about Health Care Proxy Needs Authorization