Why have a power of attorney?

Why have a power of attorney?

Establishing and legally assigning a power of attorney provides the peace-of-mind of knowing your care will be in trusted hands. As defined by Utah Courts, a power of attorney is simply the legal document where one person, “principal,” gives another, “agent,” authority to act on their behalf.

Agents granted authority to act on behalf of the principal must carry out the principal’s wishes, in addition to complying with other set protocol.

While it is possible to find legal forms online for an inexpensive fee, it is important to know these do not always meet Utah law requirements. As noted in this Utah Business Magazine article, Why Hire a Lawyer. Having an attorney knowledgable in Utah estate planning law will ensure your plans hold up in court.

In addition to the aspect of health related care, if granted, agents can also help manage financial affairs. This can include things such as; bank accounts, selling real estate property, and applying for public benefits. In accordance with Utah Code Section 75-9-114, agents must comply with state law while carrying out the financial and health wishes of the principal.

Following compliance can include some of the following tasks;

• Involving the principal is as much decision making as possible.
• Keeping good records of everything spent.
• Acting only within the scope of authority granted by the principal.

Power of Attorney is an important component of your estate planning tool kit. Regardless of the level of authority you wish your power of attorney to have.

Since our clients’ power of attorney needs are unique, we work directly with you to custom-design a tailor-made estate plan that best fits your needs. Schedule your free 30 minute consultation today!