Customizing Powers Of Attorney For The People Of Forest Hills
A power of attorney can play a crucial role in securing your legacy. At DeCandido & Azachi, PLLC, we understand the importance of planning for the future. Situated in the heart of Forest Hills, our law firm stands as a beacon of guidance for Queens residents navigating the complexities of estate planning.
You deserve attorneys like ours who listen, understand and act with your best interests at heart when it comes to appointing your power of attorney.
What Is The Difference Between A Power Of Attorney And A Trustee?
A Power of Attorney (POA) is a legal document that authorizes one person (the agent) to make decisions on behalf of another (the principal). Powers of attorney can address financial decisions, health care choices or define specific tasks, depending on the type of POA granted.
On the other hand, a trustee is responsible for managing assets placed within a trust. A trust is a legal arrangement where assets are transferred to a trustee, who holds and manages them to benefit the trust’s named beneficiaries. Unlike a POA, a trustee’s responsibilities are ongoing and can continue after the trust creator’s death, following the instructions in the trust agreement.
As a result, trustees typically have more enduring power than a POA can bestow because they control the assets in the trust according to its terms, even after the trust creator has passed away. A POA agent’s authority is often more temporary and ceases upon the principal’s improper death.
In many estate plans, you can include a POA and a trustee. The POA handles affairs not included in the trust, like dealing with taxes, health care decisions or other personal matters. The trustee manages and distributes assets in the trust.
How Much Power Does A Power Of Attorney Have?
The document itself defines a POA agent’s power. They can make decisions about finances, property management and medical care, but there are limits.
If a trust is in place, the POA does not have control over the assets within the trust, as that authority belongs to the trustee. This separation helps ensure no single person has unchecked control over all assets, reducing the risk of misuse or conflicts.
For comprehensive protection, it is crucial to have a thorough estate plan that includes both a POA and a trust. In situations where disputes arise, having clearly defined roles can prevent complications, especially regarding estate disputes.
How A Power Of Attorney Can Empower You
A power of attorney is a legal document that grants someone you trust the authority to make decisions on your behalf if you lose your capacity. They do such things as file your taxes, pay your bills and manage your investments. Choosing an agent means selecting an individual who will act with your voice, vision and values in mind.
Whether you’re facing health challenges or planning for unexpected events, appointing a power of attorney ensures that your affairs, especially if they include multiple properties or complex investments, are managed with care. As your estate planning attorneys, we’ll guide you through every step, ensuring that your power of attorney aligns seamlessly with your overall estate plan.
Your Trusted Partners In Estate Planning
Why choose us as your partner in this crucial aspect of estate planning? Because you deserve estate planning lawyers who not only understand the law but also appreciate the sensitivity of your personal information and the importance of your assets.
We build lasting relationships with our clients, grounding our practice in trust and mutual respect. As your team, we’ll tailor a legacy planning strategy that reflects your unique circumstances and provides peace of mind for you and your loved ones.
Secure Your Future With The Help Of Our New York Lawyers
At DeCandido & Azachi, PLLC, we protect what matters most to you. Contact us by phone at 718-690-7715 or send us an email to schedule a completely free consultation.
Let’s craft a power of attorney that stands as a testament to your foresight and care.