Mullica Hill Power
of Attorney Lawyer

Mullica Hill Power of Attorney Lawyer

Most estate planning in Mullica Hill, New Jersey will involve discussion about the power of attorney (POA) documents. It is important to know that a power of attorney is not simply one general document, but rather is a legal term that refers to a particular kind of document that can be created to designate another person who can make decisions on your behalf. Powers of attorney can be helpful and necessary in a wide variety of circumstances. It is essential to learn more about the different types of powers of attorney that are available under New Jersey law and to speak with a Mullica Hill power of attorney lawyer about the specific documents that may be appropriate for and applicable to your circumstances.

What is a Mullica Hill Power of Attorney?

According to New Jersey law (NJ Rev Stat § 46:2B-8.2), a power of attorney “is a written instrument by which an individual known as the principal authorizes another individual or individuals or a qualified bank . . . known as the attorney-in-fact to perform specified acts on behalf of the principal as the principal’s agent.”

In more basic terms, in which you create a power of attorney document, you are naming another person (your “attorney-in-fact” who may also be known as an “agent”) to make decisions on your behalf. As the person creating the power of attorney, you are identified as the “principal.” Depending upon the type of power of attorney created, the attorney-in-fact may have the ability to act on your behalf in specific circumstances and at a particular moment in time (i.e., for a single transaction), in handling particular kinds of issues (your attorney-in-fact might handle all financial issues for you, for example), or in the event you become incapacitated legally speaking and cannot make decisions or enter into agreements legally on your behalf.

Some types of powers of attorney only take effect when a person becomes incapacitated, while others become effective immediately and last indefinitely, and yet others still take effect for a particular event or limited duration of time.

Why Should I Designate a Power of Attorney in Mullica Hill?

There are many different reasons that it can be beneficial to designate a power of attorney and to name an agent who can make certain types of decisions or take particular actions on your behalf. The following are some of the most common reasons to designate a power of attorney in New Jersey:

• Handle financial issues for you, including paying bills and negotiating other financial matters;
• Handle legal issues for you, including contracts and other legal agreements;
• Make medical decisions for you if you cannot do so on your own; and/pr
• Make decisions for yourself if you no longer have the mental capacity to make decisions for yourself legally.

Different Kinds of Powers of Attorney in Mullica Hill, New Jersey

What are the different possible types of powers of attorney in New Jersey? There are many kinds of power of attorney instruments, and different types of powers of attorney can be appropriate or necessary in distinct circumstances. The following are common types of powers of attorney that you may want to consider as part of your estate planning or otherwise:

• Durable power of attorney: This type of power of attorney can take effect immediately (although it can take effect upon a person becoming disabled or incapacitated). A durable power of attorney typically ends when the principal (the person naming an attorney-in-fact) passes away, although the document can be revoked. A durable power of attorney is named as such because it remains in effect despite the principal becoming incapacitated. According to New Jersey law, a durable power of attorney “contains the words ‘this power of attorney shall not be affected by subsequent disability or incapacity of the principal, or lapse of time,’ or ‘this power of attorney shall become effective upon the disability or incapacity of the principal,’ or similar words showing the intent of the principle that the authority conferred shall be exercisable notwithstanding the principal’s subsequent disability or incapacity, and unless it states a time of termination, notwithstanding the lapse of time since the execution of the instrument.
• Limited power of attorney: This type of power of attorney designates another party as an attorney-in-fact to handle specific matters and/or to last for a specific amount of time. A limited power of attorney would likely be used, for example, if a person were selling his or her home and granted a limited POA to a real estate lawyer to handle the closing.
• Springing power of attorney: This type of power of attorney takes effect—or springs into effect—when the principal becomes disabled or incapacitated. A springing power of attorney will only be valid if the principal has the necessary legal competence to designate another person as attorney-in-fact at the time of creating the power of attorney.

Financial and Health Care Powers of Attorney in Mullica Hill

You might learn about distinctions between financial and health care powers of attorney, granting another person the ability to make decisions on another’s behalf concerning financial or health care matters. Depending upon the circumstances, these powers of attorney may be durable or springing powers of attorney, or in some cases limited powers of attorney.

It is important to know that the Proxy Directive form in New Jersey, which allows a person to name another who can make health care decisions on his or her behalf in the event of incapacity, is also known as a durable power of attorney for health care.

Contact a Power of Attorney Lawyer in Mullica Hill

Whether you are beginning to think about estate planning options or you have specific questions about designating a power of attorney, one of our experienced Mullica Hill power of attorney lawyers can talk with you today about your circumstances. Powers of attorney can be beneficial for a wide variety of reasons and situations, and our firm can speak with you about the type of power of attorney that is suited best to your needs. Contact Scott Counsel, P.C. online or contact us by phone at (856) 672-7248 to learn more about how we can assist you with a power of attorney, and to learn more about the power of attorney services we provide to individuals in New Jersey and Pennsylvania.