Powers of Attorney in Tennessee
A Durable Power of Attorney in Tennessee is a legal document that grants an individual of your choosing (called the Attorney-in-Fact or the Agent-in Fact) the ability to make decisions on your behalf. It allows you to choose now, while the ability is still in your hands, to determine who you would like to make important decisions for you, what decisions you would like for others to be able to make and decide when those decision-making powers take effect. A durable power of attorney is effective upon proper execution and remains in effect after incapacitation whereas a springing power of attorney only takes effect upon your incapacity. A power of attorney has certain legal requirements and can be simple or be customized and catered to your needs and requests.
A Power of Attorney is one of the most important tools in Elder Law and Special Needs Planning. An experienced elder law attorney can prepare a power of attorney that anticipates potential issues which may occur later in life, including granting the Attorney-in-Fact special powers not included in a standard power of attorney to include the ability to do things to help you and protect your assets should you ever need long term care. Special powers often included in a power of attorney drafted by an experienced elder law attorney include the ability to apply for public benefits, to enter into caregiver agreements and to form trusts for your care. The language in a power of attorney can also be worded to protect the Agent-In-fact from financial liability should they ever need to sign admission documents to a hospital or nursing facility. A carefully prepared power of attorney will often eliminate the time-consuming and more expensive process of Conservatorship should you become incapacitated. Silva Law will work with you to develop a power of attorney that reflects your wishes and grants you peace of mind.
Both Powers of Attorney and Conservatorships grant an individual the ability to make financial and medical decisions for another, however, a power of attorney is executed in advance of incapacity and a Conservatorship happens upon petition to the Court after an individual is no longer able to make important decisions and unable to have the capacity to sign a Power of Attorney. Powers of Attorney are less costly and less time consuming.
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