Financial Powers of Attorney

What is the Difference Between Medical and Durable Power of Attorney?

A durable power of attorney is a written document that creates an agency relationship between the person granting authority and an agent, or attorney-in-fact, the person to whom authority is granted. By signing a durable power of attorney, you authorize another person to engage in specified business, financial and legal transactions on your behalf. It … Read More

How to Talk With Your Parents About Their Financial Affairs

Many elderly parents are uncomfortable sharing their finances with their children. An article I read recently suggested several reasons they may be wary. Some parents worry that their kids will lose motivation to work if they thought they might inherit a substantial amount of money. Others are concerned their children might pressure them for gifts, … Read More

How Do I Revoke a Durable Power of Attorney In Texas?

A durable power of attorney is a written document that allows you to designate someone you trust to engage in specified business, financial and legal transactions on your behalf. It’s called “durable” because it does not terminate if you become disabled or incapacitated. But what if the person you name as your agent becomes estranged? … Read More

Do I Need A Will If I Have A Power of Attorney?

A durable power of attorney allows you to choose a person you trust to handle your financial affairs if you become incapacitated and can’t handle them yourself. If you don’t have a durable power of attorney and become incapacitated, a guardianship may be necessary. Guardianships are expensive and cumbersome and can be avoided with a … Read More

Does A Durable Power Of Attorney Need To Be Notarized?

To be effective in Texas, the following the durable power of attorney must be in writing signed by an adult name an agent or attorney in fact expressly provide that the agents authority either continues after the pricipal becomes disabled, or begins when the agent becomes disabled or incapacitated be notarized The durable power of … Read More

Is It Necessary to File A Durable Power of Attorney?

A durable power of attorney gives you the power to appoint a trusted family member or friend as an agent to manage your finances if you are no longer capable of managing them yourself, such as if you become temporarily or permanently incapacitated. If you become incapacitated and do not have a durable power of … Read More