Estate Planning
Powers of attorney
Empowering Your Loved Ones to Act on Your Behalf
At The Law Offices of Jarrett R. McCartney, PLLC, we understand that planning for the future is crucial to secure your peace of mind
Our team specializes in creating comprehensive Powers of Attorney to ensure your wishes are respected and your affairs are managed according to your directives.
Our firm is dedicated to providing tailored estate planning solutions for Michigan residents. We offer experienced guidance in drafting, executing, and managing Powers of Attorney that comply with the latest legal standards.
Protect your future by scheduling a consultation with us today.
Ensuring Reliable Assistance for Your Future Needs
Estate planning with a power of attorney can be overwhelming, especially with new legislation continually introducing significant changes and requirements.
Without proper legal guidance, you risk having an ineffective Power of Attorney that might not be recognized, leading to potential legal and financial complications. Misunderstandings about the scope and limitations of an agent’s authority can also result in unintended consequences.
At The Law Offices of Jarrett R. McCartney, PLLC, we ensure your Power of Attorney is valid, comprehensive, and tailored to your specific needs. Our services include drafting powers of attorney, clarifying the extent of an agent’s authority, and providing ongoing legal support to adapt to any changes in your circumstances.
Contact us today to schedule your consultation and secure a reliable Power of Attorney that ensures the protection of your finances, future care needs, and more!
Power Of Attorney: Trusted Support When You Need It Most
A power of attorney (POA) in Michigan is a powerful legal tool that allows you to designate someone you trust to manage your financial, legal, or healthcare decisions if you become unable to do so yourself.
One of the primary benefits is the peace of mind that comes from knowing your affairs will be handled according to your wishes by someone you have chosen.
With a POA, you can outline specific powers and instructions, ensuring that your agent acts in your best interest and within the scope you’ve defined. This is especially important in emergencies or situations where you are incapacitated, as it avoids the need for court-appointed guardianship, which can be time-consuming and costly.
- A healthcare power of attorney lets you appoint someone to make medical decisions on your behalf, ensuring that your healthcare preferences are respected. This can include decisions about treatments, medications, and end-of-life care.
- A financial power of attorney enables your agent to handle tasks like paying bills, managing investments, and handling real estate transactions, ensuring that your financial matters continue smoothly.
Creating a power of attorney also helps to prevent potential disputes among family members by providing clear directives about who should make decisions on your behalf. This can reduce stress and uncertainty for your loved ones during difficult times.
At The Law Offices of Jarrett R. McCartney, PLLC, we can help you draft a comprehensive power of attorney document that meets all legal requirements in Michigan and truly reflects your wishes.
Contact us today to secure your future and ensure your affairs are in good hands.
FREQUENTLY ASKED QUESTIONS
What are the different types of powers of attorney available in Michigan?
The new Uniform Power of Attorney Act (Act 187 of 2023) in Michigan recognizes two primary types of powers of attorney:
1. Durable Power of Attorney: This type of power of attorney remains effective even if you become incapacitated. It is designed to allow your designated agent to manage your financial and legal affairs without interruption.
2. Non-Durable Power of Attorney: Unlike a durable power of attorney, a non-durable power of attorney is typically used for specific transactions or for a limited period. It becomes invalid if you become incapacitated.
Additionally, the new laws provide statutory forms for both types, ensuring that the powers of attorney comply with the latest legal requirements and are easier to execute and understand.
How do I choose the right person to be my agent under a power of attorney?
Choosing the right person to be your agent under a power of attorney is crucial. Here are key factors to consider under the new Michigan laws:
- Trustworthiness: Select someone you trust implicitly, as they will have significant control over your financial and legal affairs.
- Ability to act in your best interest: Choose someone who understands your values and wishes and who will act in your best interests, even under pressure.
- Availability and willingness: Ensure the person is willing to take on the responsibility and is available to act when needed.
- Financial and legal acumen: Ideally, the agent should have some understanding of financial and legal matters or be willing to seek professional advice.
- Communication skills: The agent should be able to communicate effectively with financial institutions, legal professionals, and family members.
Under Michigan’s new Uniform Power of Attorney Act, it’s also important to discuss the specific powers you are granting and ensure that the agent understands and agrees to these responsibilities. You might want to consider designating a successor agent in case your first choice is unable to serve.
What are the new requirements under Michigan's Uniform Power of Attorney Act?
The new requirements under Michigan’s Uniform Power of Attorney Act (Act 187), include several key changes.
- Signature and Notary: The act requires that all powers of attorney must be signed by the principal and acknowledged before a notary public or another individual authorized by law to take acknowledgments. This ensures the authenticity of the document.
- Acting In The Power Given By the POA: Agents are now required to act in accordance with the principal’s expectations and in the principal’s best interest. They must also act in good faith and only within the scope of authority granted in the power of attorney document.
- Specific Language Regarding Durability: The act also mandates that the power of attorney document must include specific language stating whether it is durable, meaning it remains effective even if the principal becomes incapacitated.
- New Statutory Forms: There are new statutory forms provided for both durable and non-durable powers of attorney to help ensure compliance with the law.
- Keeping Detailed Records: Agents are required to keep detailed records of all transactions made on behalf of the principal and to provide an accounting if requested by the principal, a guardian, a conservator, or another fiduciary acting for the principal.
These requirements aim to enhance the protection of the principal’s interests and ensure that agents are clearly aware of their responsibilities and limitations under the law.
Can a power of attorney be revoked or changed after it has been signed?
A power of attorney can be revoked or changed after it has been signed. The principal, or the person who created the power of attorney, has the right to revoke or amend the document at any time, as long as they are mentally competent.
This can be done by creating a written statement of revocation or by executing a new power of attorney that explicitly revokes the previous one.
It’s important to notify the agent and any relevant third parties, such as banks or financial institutions, of the revocation to ensure they are aware that the agent no longer has authority. If the power of attorney was recorded with a government agency, the revocation should also be recorded in the same manner.
Under Michigan’s Uniform Power of Attorney Act, clear guidelines are provided for revocation and amendment to protect the principal’s interests and ensure that their current wishes are respected.
What authority does an agent have under a power of attorney in Michigan?
Under Michigan’s Uniform Power of Attorney Act, an agent has specific authorities and responsibilities outlined by the principal in the power of attorney document.
Powers you may grant to an agent in Michigan:
- Handle financial and legal matters, such as managing bank accounts, paying bills, making investments, and handling real estate transactions, as long as these powers are expressly granted in the document.
- Manage healthcare decisions if specified.
The principal can grant general authority, covering a wide range of financial and legal activities, or specific authority, limiting the agent to certain tasks.
The agent is required to act in the best interest of the principal, maintain accurate records of all transactions, and avoid conflicts of interest. The agent must also follow any instructions provided by the principal and act within the scope of the authority granted.