Do you live in Nevada and need clarification about the Power of Attorney (POA)?
If so, don’t worry – this post will answer some frequently asked questions to help you understand what POA is.
In Nevada, having a POA means giving another person the legal right to take care of tasks or make decisions on your behalf if you can’t do these things yourself.
The person you give this responsibility to gets called an attorney-in-fact or agent.
A POA is a vital document, so it’s essential to understand the basics before signing one. Let’s learn more!
What Is a Power of Attorney?
A power of attorney (POA) is a legal document giving permission or authorization to someone you choose to act on your behalf in limited situations.
The person you name in the document gets referred to as your agent or attorney-in-fact. The scope or extent of the permissions you grant to your agent can be minimal and specific or cover a broader range of tasks.
If you decide you create a power of attorney, you can also dictate the timeframe in which the document would be valid.
What Does a Power of Attorney Do?
A power of attorney allows someone to perform specified actions on your behalf.
This definition may sound pretty straightforward, but this is an oversimplified explanation of this legal document’s function.
A POA in Nevada can grant broad or precise permissions. For example, if you are going to be out of the country and unable to sign important financial documents, a power of attorney can get used for this one-time event to grant someone the authority to sign on your behalf.
How Does a Power of Attorney Help with Estate Planning?
Powers of attorney are essential aspects of comprehensive estate planning.
These documents should not replace a will, but a well-planned power of attorney is a valuable accompaniment to other estate planning elements. Your estate planning attorney can help create a specific POA for your circumstances.
Do you want someone to handle medical decisions if you are unable? Are you more focused on authorizing someone to take care of your finances?
Working with an estate planning attorney ensures that you have a power of attorney that meets your anticipated needs.
Who Should I Name as an Agent in My Power of Attorney?
Your agent or attorney-in-fact should be someone that you trust. This person will have a fiduciary duty to you, which is a significant responsibility. They must always act in your best interests when performing as your agent. In addition, it is also a good idea to speak to your intended agent before naming them in your power of attorney. A willing agent is usually preferable over a reluctant one.
Nevada also requires that this person have the capacity or ability to enter into a contract. According to Nevada laws, a competent adult is likely an acceptable choice.
Depending on the type of POA you choose, additional stipulations may also exist. Your estate planning attorney can clarify the requirements for you.
Are There Any Disadvantages to a Power of Attorney?
As with most things, a POA is not the perfect fit for every situation or person. When creating a power of attorney, careful attention must get given to the authorities granted within it.
The POA may only be valid if any mistakes get made regarding what your agent can do or when they do it. Further, it is not intended to extend beyond death, granting no authority once you pass away.
That is why having a comprehensive estate plan that includes a variety of legal documents is a good idea.
Can I Change My Power of Attorney After the Fact?
A power of attorney can be amended or revoked in most situations. Certain types of POAs require different methods for amendment, which your estate planning attorney can help you sort out.
You may need to have witness signatures and notarization, or it may need to get filed with the county recorder’s office.
However, adjustments should be possible if you change your mind about who you want to be listed as your agent or wish to change your power of attorney.
Are There Different Types of Powers of Attorney?
In Nevada, there are two types of POAs – a conventional power of attorney and a durable power of attorney. A conventional POA is limited to a fixed period, and any authority granted to your agent is void if you become incapacitated. A durable POA is a more common option in estate planning.
A durable POA gets designed to become active if you get incapacitated through an accident or illness, and it will remain in effect until your death or until the POA gets revoked.
A POA can get used for health care decisions or financial decisions.
How Can I Get a Power of Attorney?
A valid power of attorney must be written and signed by you.
Having the document notarized or witnessed by two adults is also a good idea. There are rules regarding who these witnesses may be, which you should discuss with your estate planning attorney.
Your attorney can also help you create a POA by discussing your needs and drafting the document.
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Further Reading
Our lead attorney, Molly Rosenblum, Esq., has not only distinguished herself through her legal expertise but also by creating an array of valuable resources aimed at assisting you during challenging times. These resources, thoughtfully curated on the Rosenblum Law website, provide comprehensive information and guidance on various aspects of family law in Nevada. Whether you’re navigating the complexities of the family court system, considering adoption, or need guidance on specific legal processes, these resources are designed to support and inform you:
Las Vegas Family Law Attorneys: A dedicated resource providing expert legal advice and representation in all areas of family law in Las Vegas. Explore here.
Family Court Las Vegas: Gain insights into navigating the family court system in Las Vegas, ensuring you’re well-prepared for the legal journey ahead. Learn more.
Common Law Marriage in Nevada: Understand the intricacies of common law marriage in Nevada and how it may pertain to your relationship. Read the details.
Name Change Las Vegas: A guide through the legal process of changing your name in Las Vegas, providing clarity and simplifying the procedure. Start the process.
How to File a Motion in Family Court: Step-by-step guidance on filing a motion in family court, an essential aspect of navigating family legal matters. Get the guide.
Family Court Mediation: Explore the benefits of mediation in resolving family disputes, a process that promotes cooperation and can lead to more amicable outcomes. Discover mediation.
Unbundled Attorney: Learn about the concept of unbundled legal services, offering a flexible and cost-effective option for legal representation. Understand your options.
Nevada Adoption: Navigate the adoption process in Nevada with valuable information and guidance, making your journey to parenthood clearer and more manageable. Begin the adoption process.
Molly Rosenblum, Esq., through these resources, demonstrates her commitment to providing not just legal services but also the knowledge and support essential during significant life transitions. We encourage you to make the most of these resources, crafted to assist and empower you in your time of need.
Offsite Resources You May Find Helpful
Rocket Lawyer: An online legal services company that provides legal information, attorney services, and a platform to create legal documents.
Investopedia: A leading source of financial content on the web, with educational content, investing advice, and market analysis.
Caring.com: A helpful resource for those caring for aging parents, spouses, or other elderly loved ones, providing information on elder care services, senior living options, and more.
ElderLawAnswers: A resource for information on elder law, long-term care planning, Medicaid, estate planning, and other legal issues related to aging.
Justia: A platform for free case law, codes, regulations, and legal information for lawyers, business, students, and consumers worldwide.
American Bar Association: The largest professional organization of lawyers in the US, providing law school accreditation, continuing legal education, and resources on a wide range of legal topics.
What's Next?
Are you a Las Vegas resident looking for help with your estate planning needs?
The Rosenblum Allen Law Firm has got you covered!
Our expert team of attorneys is here to provide innovative and tailored legal services catered to the specific requirements of our clients.
We understand that making decisions about one’s financial future can be overwhelming, so we make sure that every service we deliver provides the highest quality guidance and excellence in execution.
Our unparalleled dedication, expertise, trustworthiness, and dependability are just some of the reasons why countless local individuals have turned to us when it comes time for them to plan their estates.
Plus our flexible scheduling options allows for meetings at convenient times without disrupting your daily life commitments – all while staying within your budget!
Get started today by giving us a call at (702) 433-2889. Let’s get started together on creating an estate plan best suited for YOUR success story!
Frequently Asked Questions
What are durable powers?
Where can I find power of attorney forms?
What is a medical power of attorney?
