What is a Power of Attorney in Indiana?

A power of attorney is a legal device. With a power of attorney, you could empower someone else to act on your behalf in a legally binding manner. Learn more about power of attorney in this presentation.

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POWER OF ATTORNEY?

2. EMPOWERMENT

3. A power of attorney is a legal device

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ATTORNEYS AT LAW

4. With a power of attorney, you could
empower someone else to act on your
behalf in a legally binding manner

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ATTORNEYS AT LAW

5. The Players

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6. When you create a power of
attorney, you are called the grantor
or the principal

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7. The person that is being empowered
to act on your behalf is called the
agent or attorney-in-fact

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8. Though the representative is called
the attorney-in-fact, any competent
adult can act in this capacity

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9. An agent does not have to be a
lawyer

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ATTO AT LAW

10. Extent of Power

11. As the grantor of the power of
attorney, you decide on the extent
of the power you are granting

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12. A general power of attorney would
give the agent the power to act on
your behalf in a comprehensive
manner

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13. You could alternately create a limited

power of attorney to give the agent

the power to act for you on a limited
basis

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14. Incapacity Planning

15. Our firm focuses on estate planning
and elder law matters

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16. In our area of the law, incapacity
planning is important

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17. Many elders become unable to make
sound decisions on their own, so
you must prepare for this
contingency in advance

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18. Durable Power of Attorney

19. You could prepare for incapacity
through the execution of a durable
power of attorney

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20. A durable power of attorney would
remain in effect upon the
incapacitation of the grantor

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21. Your agent would be empowered to
act on your behalf if you were to
become incapacitated at some point
in time

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22. Financial and Medical
Decisions

23. You may want one person to make
financial decisions for you, and
another to make your health care
decisions

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24. This could be accomplished through
the creation of two different durable
powers of attorney

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25. Free Incapacity Planning
Consultation

26. Incapacity is quite common among
elders, so action is required to
prepare for this eventuality

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Contact us to schedule a free consultation if

you would like to put a plan in place

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FrankKraft.com