A Power of Attorney (POA) is a powerful legal tool for children of elderly parents. It allows you to make financial or legal decisions on their behalf if they are no longer able to make decisions on their own. But how do you get a power of attorney for an elderly patient in NY? Our team could help you determine the right type of POA for your family and guide you through the process to ensure it is enforced when needed.
A Power of Attorney is a legal document that gives someone (the “agent”) permission to make legally binding decisions on behalf of another person (the “principal”). In New York, this document includes several tasks ranging from paying bills to managing investments or even selling property.
For elderly parents, a POA can be especially beneficial. It ensures that someone they trust is able to step in when necessary, such as overlooking bank statements. Without a POA, families can be placed into official guardianship roles, which can be time-consuming, expensive, and emotionally strenuous.
A lawyer at Tully Law Group, PC could help you determine if you should get a power of attorney for your elderly parent in NY.
There are several key steps you must take to get a power of attorney for an elderly patient in NY.
Begin by speaking candidly with your parent about why having a POA could be beneficial for them and their family. They should understand how the document works and feel comfortable with the idea of giving someone else the ability to make big decisions on their behalf during certain circumstances.
New York has different types of POAs, so it is crucial to select the one that suits your parent’s needs. The two most common types are: General Power of Attorney and Durable Power of Attorney. The General Power of Attorney gives significant power to the agent, while the Durable Power of Attorney is better for long-term planning. You can also use a “springing” POA, which only goes into effect under certain situations. For example, if a doctor states that your parent has lost mental capacity.
While you can fill out the forms online, working with an experienced attorney could ensure that you meet all legal requirements. New York sometimes makes changes to POA laws, and online forms may become outdated. A lawyer could guide you throughout the process, customizing your Power of Attorney to meet your parent’s needs while keeping up-to-date with existing laws.
For your POA to be enforced in the state, it must be signed by your parent in the presence of a notary public and two neutral witnesses. Your attorney could help ensure that all administrative requirements are satisfied. Once the POA is officially established, it is essential to store the original document in a safe place and make extra copies for any bank or medical center that might need them. Let your parent know where the document is stored and who has access to it.
During an initial consultation, a lawyer could help you understand the process and critical next steps.
Getting a Power of Attorney for an elderly parent in NY does not have to be an intimidating process. At Tully Law Group, PC, we could walk you through every step, answering any questions you may have and managing the process. Call our office today for a free consultation. Let us help you plan for your family’s future.
