Albuquerque Lawyers Create Power of Attorney Documents
Firm helps clients appoint agents to handle healthcare and financial decisions
If you should become incapacitated by injury or illness, a power of attorney document will assure that someone you trust has the legal authority to make decisions on issues such as your medical treatment and financial matters. At Hurley, Toevs, Styles, Hamblin & Panter, P.A., we draft powers of attorney for clients in the Albuquerque area and throughout New Mexico. We can advise you how this legal instrument can fit into your overall estate plan and create a document based on your specific preferences.
What is a power of attorney in New Mexico?
A power of attorney is a binding document that authorizes another person, called an agent or attorney-in-fact, to manage matters that you would usually handle yourself, such as healthcare decisions or financial transactions. You can draft a power of attorney for a specific situation. For example, you might need someone to make certain decisions while you are out of the country.
You can also develop a power of attorney that will go into effect if you experience mental or physical incapacity. In your document, you can designate a family member (or another trusted individual) to act in this role, or name separate individuals for healthcare and financial matters. These legal instruments can be personalized so that you decide what specific powers you want granted to the agent. Our estate planning attorneys can assist you with this process.
Types of powers of attorney in New Mexico
New Mexico power of attorney documents can fall into one or more of the following categories:
- Durable power of attorney — Unlike some other legal instruments, a durable power of attorney remains in effect even if the person who drafted it later experiences mental incapacity.
- Springing power of attorney — This power of attorney grants your agent the authority to make decisions for you, but only when and if you become incapacitated.
- Financial power of attorney — A financial power of attorney document can name someone to handle your banking, bill paying, tax obligations and other financial matters. You can also appoint someone to assume control of your business.
- Medical power of attorney — Your medical power of attorney, also called an advance directive, designates an individual to make healthcare decisions for you if you cannot communicate them due to your condition. This can include end-of-life care decisions, sometimes referred to as a “living will.”
The specific powers that an agent will have to act on your behalf depend on the terms you wish to include in the document. We will guide you in determining what makes the most sense for your situation.
Why you need a power of attorney
You never know what the future holds. If you suddenly become incapacitated without a power of attorney or advance medical directive, your family may not know what your wishes are regarding finances and healthcare. This could trigger stress among your loved ones, and possibly even litigation. Unless you provide legally enforceable directions, your wishes may not be carried out, including your preferences for end-of- life care. We can help you avoid confusion by developing a legal instrument that is clear and in compliance with New Mexico law.
Contact an experienced New Mexico estate lawyer for a consultation
At Hurley, Toevs, Styles, Hamblin & Panter, P.A. in Albuquerque, we draft financial and medical powers of attorney for individuals in New Mexico. Call us at 505-888-1188 or contact us online to set up a consultation.
