[NC] [NC] What agent powers should I include in my loved one’s durable power of attorney?
Just covering all the bases so I can help her with her needs, medical care, finances, house, car, etc. She's about to have surgery and she is 79 years old, so she wants all of her paperwork to be in order. I'm already caring for her, but I'm limited in what I can do.
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In North Carolina, a Durable Power of Attorney (DPOA) is a critical document that allows a person (the Principal) to appoint someone they trust (the Agent or Attorney-in-Fact) to manage their affairs, even if they become incapacitated.
Key areas to consider when defining the Agent's powers in a DPOA include:
1. Financial Management:
- Paying bills and managing bank accounts.
- Handling investments (stocks, bonds, retirement accounts like IRAs, 401(k)s).
- Managing and selling real estate.
- Filing and paying taxes.
- Collecting benefits (Social Security, disability, etc.).
2. Property Management:
- Buying, selling, and managing personal property.
- Transferring or gifting assets, potentially for estate tax avoidance or to family members.
3. Legal and Business Affairs:
- Entering into contracts and making operational decisions for a business.
- Handling legal proceedings (hiring attorneys, filing lawsuits).
4. Long-Term Care Planning:
Accessing funds and making arrangements for long-term care needs.
5. Asset Protection and Tax Planning:
Updating existing planning measures and conducting necessary planning on the Principal’s behalf.
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Hey, I just finished filling out the Durable Power of Attorney form. In the section where she writes her own ideas about what I can do to help her as DPOA, we want to make sure we include all necessary items. Could you assist us with this?
Thank you for sharing that with me. Can you tell me if there are any specific concerns or tasks your loved one wants to address in the Durable Power of Attorney form?
Just covering all the bases so I can help her with her needs, medical care, finances, house, car, etc. She's about to have surgery and she is 79 years old, so she wants all of her paperwork to be in order. I'm already caring for her, but I'm limited in what I can do.
Have you consulted with a lawyer or legal professional to review the form and ensure it covers all necessary aspects for your situation?
No we haven't.
Is there anything else the Lawyer should know before I connect you? Rest assured they’ll be able to help with your Durable Power of Attorney.
I think I just need to know the cost of this.
Thank you for choosing AskALawyer! My name is Jessica and I am a licensed attorney that will be assisting you with your question. I am reviewing your question and will be providing a response momentarily. You may receive a prompt for a telephone consultation. This is an additional service offered by JustAnswer and you may decline the offer. Depending on the issue you are experiencing, some customers prefer a telephone consultation to better understand their issue and possible solution.
What state is she a permanent resident?
In North Carolina, a Durable Power of Attorney (DPOA) is a critical document that allows a person (the Principal) to appoint someone they trust (the Agent or Attorney-in-Fact) to manage their affairs, even if they become incapacitated.
Key areas to consider when defining the Agent's powers in a DPOA include:
1. Financial Management:
- Paying bills and managing bank accounts.
- Handling investments (stocks, bonds, retirement accounts like IRAs, 401(k)s).
- Managing and selling real estate.
- Filing and paying taxes.
- Collecting benefits (Social Security, disability, etc.).
2. Property Management:
- Buying, selling, and managing personal property.
- Transferring or gifting assets, potentially for estate tax avoidance or to family members.
3. Legal and Business Affairs:
- Entering into contracts and making operational decisions for a business.
- Handling legal proceedings (hiring attorneys, filing lawsuits).
4. Long-Term Care Planning:
Accessing funds and making arrangements for long-term care needs.
5. Asset Protection and Tax Planning:
Updating existing planning measures and conducting necessary planning on the Principal’s behalf.
Yes, all of that is what she wants. She has surgery coming up and she needs help with most things already, but until doctor facilities, bank, etc. have the official DPOA, I can't help her. So are these items taken care of the way this eForm has been designed?
Correct.
OK, great. So I filled it out, marking all boxes and saved it. I paid the fee. How do I proceed from here?
The next step once the document is completed is to have it signed in the presence of witnesses and a notary.
OK thanks so much. Have a good day!
Jessica B
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