Texas Durable Power of Attorney
What is a Durable Power of Attorney?
A durable power of attorney or durable POA is a legal document that authorizes someone else to act for you in legal or financial matters. You can use a durable POA to allow someone else to buy or sell real estate for you, sign checks and tax returns, or access funds from your accounts.
When is it advisable to get one?
Do I need a Durable Power of Attorney?
- Do you have income? If you become ill, you may not be able to make bank deposits, manage benefits, or pay bills yourself. A durable power of attorney can authorize someone else to take care of these matters for you.
- Do you own property? If so, taxes and insurance bills must be paid to avoid a lien on your property. In addition, lawns must be maintained and property repairs made. To protect your assets, it’s a good idea to assign an alternate party to manage these items for you.
- Are you concerned about health issues? If you don’t have a durable POA in place, your family members or loved ones may not be authorized to act on your behalf. For example, if you own property in your name only, your spouse might not be able to make decisions regarding its care. A durable POA makes it possible to ensure your affairs will be taken care of, in the event that you can’t do so in the future.
When does a Durable POA become effective?
How do I obtain a Durable Power of Attorney?
|Living Will/Advance Directive||$40|
|Transfer on Death Deed||$125|