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Call: (865) 657-1385
Knoxville Power of Attorney Legal Services
Power of Attorney: Creation and Modification
A power of attorney (POA) is a legal document that allows one person (the "principal") to authorize another person (the "agent" or "attorney-in-fact") to act on their behalf in financial or legal matters. In Tennessee, creating and modifying a power of attorney involves understanding the requirements of state law and the Tennessee Rules of Civil Procedure. Here is a general overview of how a power of attorney is created and modified in Tennessee.
Creation of a Power of Attorney
- Capacity: The principal must have the legal capacity to create a power of attorney, meaning they must be of sound mind and at least 18 years old.
- Intent: The principal must have the intent to create a power of attorney, understanding the authority they are granting to the agent.
- Form: A power of attorney in Tennessee must be in writing and signed by the principal. It must also be witnessed by two witnesses or notarized by a notary public.
- Authority: The power of attorney document must clearly specify the powers granted to the agent, including whether it is a general power of attorney (granting broad authority) or a limited power of attorney (granting specific authority for a limited purpose).
General Power of Attorney
A general power of attorney gives the agent broad authority to act on behalf of the principal in financial and legal matters. This can include managing bank accounts, signing contracts, and making financial decisions. A general power of attorney is typically used when the principal is unable to handle their affairs due to illness, disability, or absence.
Limited Power of Attorney
A limited power of attorney, also known as a special power of attorney, grants the agent authority to perform specific tasks or make specific decisions on behalf of the principal. This type of POA is often used for a single transaction or for a limited period of time. For example, a limited power of attorney may be used to authorize someone to sell a piece of property on behalf of the principal.
Durable Power of Attorney
A durable power of attorney remains in effect even if the principal becomes incapacitated or unable to make decisions. This type of POA is often used to plan for future incapacity, ensuring that someone will be able to manage the principal's affairs if they become unable to do so themselves.
Healthcare Power of Attorney
A healthcare power of attorney, also known as a healthcare proxy or medical power of attorney, allows the agent to make healthcare decisions on behalf of the principal if they are unable to do so. This can include decisions about medical treatment, surgery, and end-of-life care. A healthcare power of attorney is an important part of an advance directive, which also includes a living will.
Modification of a Power of Attorney
- Revocation: A principal can revoke a power of attorney at any time, as long as they are of sound mind. This can be done by executing a revocation document and providing notice to the agent.
- Amendment: If a principal wishes to modify the powers granted in a power of attorney, they can execute an amendment document specifying the changes. This document must also be signed and witnessed or notarized.
- Agent Resignation: An agent can resign from their role at any time by providing written notice to the principal. The principal should then update the power of attorney document to reflect the change.
Conclusion
In conclusion, there are several types of power of attorney available in Tennessee, each with its own specific purpose and scope. A general power of attorney gives the agent broad authority to act on behalf of the principal, while a limited power of attorney grants authority for specific tasks or decisions. A durable power of attorney remains in effect even if the principal becomes incapacitated, and a healthcare power of attorney allows the agent to make healthcare decisions on behalf of the principal. Understanding the different types of power of attorney can help you choose the right one for your needs and ensure that your affairs are handled according to your wishes.
If you need assistance with creating a Power of Attorney in Tennessee, Herrera, Reilly & Associates, PLLC in Knoxville, TN is here to help. Our firm's family law attorneys, probate attorneys, and estate planning attorneys can help during the probate process. Please call us at (865) 657-1385 or schedule a free consultation online.
DISCLAIMER: The information above is not intended as legal advice but rather for educational/opinion purposes only. If you seek legal advice, contact an attorney. By viewing this information/website, you are agreeing that no attorney-client relationship exists or has been created.