Protect Your Estate
Powers of Attorney
Loveridge Law Firm LLC
David R. Loveridge, Attorney At Law
Local Phone (318) 361-5065
1-877-361-5065
dave@loveridgelawfirm.com
A Power of Attorney is a written document by which one person (the Principal) authorizes a second person (the Mandatary or Agent) to take certain actions on behalf of the Principal. These actions can include making financial decisions and/or making medical decisions. Powers of Attorney can be useful in two types of situations: when it is “inconvenient” for the Principal to act personally, or when the Principal cannot act because of “incapacity.” Because incapacity can happen suddenly (such as in an accident or by a stroke), it is very important for even healthy people to have a power of attorney in place.
It is important to note that the Agent is UNDER the Principal. It is incorrect for the Agent to say “I have Power of Attorney OVER the principal.” The Agent is duty-bound to carry out the wishes of the Principal. Also, both the Principal and the Agent should be aware that the Principal can revoke the Power of Attorney at any time.