A power of attorney is a legal document by which you appoint a person to act as your agent. The agent also called your attorney-in-fact. Once your attorney-in-fact acts within the scope of the authority spelled out in the power of attorney, his or her actions are legally binding on you, just as though you performed the acts yourself. The power of attorney can be general—authorizing the agent to act for you on every kind of subject or matter which may legally be handled through an agent. However, certain powers must be named specifically.
In Missouri, the power of attorney may be durable, meaning that it is still effective if you become incapacitated. So, for example, if you experience incapacity due to a stroke and had in place a durable power of attorney, your attorney-in-fact could use your funds to pay your bills and arrange for nursing services. You also have the option to make the power of attorney effective only on incapacity. This is called a “springing” power of attorney.
Healthcare Powers of Attorney are also permitted. These documents nominate a person to either consent to determine which health care, medical care, treatment or procedures are permitted.
The power of attorney terminates on your death. As a result, it does not replace a will.
Missouri law has numerous rules and limitations on powers of attorney. Hannam Law can help you to decide the best option in your circumstances and tailor the power of attorney to suit your needs. Call us for a consultation today.