Boulder Power of Attorney Lawyers Implementing Key Powers for Your Estate Plan

There are so many difficult matters involved in maintaining an estate, providing for our families, filing our taxes, and preparing for the future. It is okay, encouraged even, to seek assistance in these matters. If you want someone to be legally able to make financial decisions, file taxes, choose your healthcare, or even act in your interests if you are ever incapacitated, you will need to draft a power of attorney.

The person or institution you entrust with your power of attorney is known as the agent (this role is sometimes called the ‘attorney-in-fact’ in certain other states). The selection of this agent is an important choice that should not be made in haste.

Rocky Mountain Law provides a wealth of services to clients with their estate planning. Powers of attorney are central to most any estate plan, and we would be pleased to assist you in writing and filing these legal documents. To speak with our attorneys, contact our office in Boulder, CO, to schedule a free consultation.

What Types of Powers of Attorney Exist in Colorado?

There are many types of POA available to you, with some more applicable to some estates but not others. The two most common types of power of attorney are the health care POA and the financial POA. A health care power of attorney allows for your agent to make decisions relating to your medical care, particularly in cases when you have become incapacitated and are unable to make the choices yourself. Naturally, a financial power of attorney grants the agent the ability to make decisions relating to your finances and business matters.

Other types of powers of attorney in Colorado include:

• General power of attorney: A general POA is much like the combination of a financial and health care POA, giving your agent authority to make decisions on both your finances and your medical care.
• Non-durable power of attorney: While a durable power of attorney is especially helpful if you ever become too sick or injured to make decisions for yourself, a non-durable POA would expire in the event that you become incapacitated.
• Springing power of attorney: A ‘springing’ POA doesn’t go into effect until some triggering event. For example, a springing power of attorney may be written to go into effect only once you are incapacitated.