Powers of Attorney

Powers of Attorney in Colorado

Discuss Your Case with a Denver Estate Planning Lawyer

When you pass away or become mentally incapacitated, you will no longer be able to make decisions or express your wishes for the passing on of your assets and property. However, through adequate planning, you can designate a trusted individual to make these decisions on your behalf. This person is granted what is known as “power of attorney” and has the ability to convey and enact the wishes of the “principal” on their behalf.

Power of attorney law is multi-faceted and it’s important to make sure your wishes are fully-covered in your estate plan. When you call the Denver estate planning lawyers at The Moodie Law Firm, you can trust that your future and the future of your family and loved ones is in the hands of an experienced team that is motivated by your success. We believe in being fully-prepared for the unexpected, and we individually-tailor our counsel to fit the needs of those who entrust their future to us. No matter how big or small your estate may be, we can help you prepare to pass it on to your family and loved ones.

Call The Moodie Law Firm now at 303-578-3940 and request a case evaluation if you’d like more information on powers of attorney.

Types of Powers of Attorney

There are many different types of powers of attorney, granting you flexibility to give decision making to those who you trust the most in certain situations. These powers can be as broad and all-encompassing or as refined and specific as you would like, and you can even remove or add additional responsibilities for someone if you deem them necessary.

Some common types of powers of attorney include:

  • Durable Power of Attorney: These are powers of attorney that are still valid, even if the principal becomes incapacitated. All powers of attorney are considered to be durable by default, unless specified otherwise.
  • General Power of Attorney: This power gives you control over a principal’s financial decisions and abilities, provided you use their finances, assets, and capital in a way that would benefit the principal to the best of your knowledge and ability.
  • Limited Power of Attorney: This allows someone to select and grant power of attorney for a limited capacity, with an expiration either after a certain date, after the completion of a project, or when another circumstance occurs.
  • Medical Power of Attorney: This grants someone the ability to make medical decisions on your behalf. Should have an advanced medical directive in place, this person would be tasked with ensuring that your wishes in this directive are followed. If not, then this person has the ability to approve treatment or procedures on behalf of the principal should they become incapacitated.
  • Minor Child Power of Attorney: If the principal has any minor children (under the age of 18), this gives them the ability to handle all guardianship responsibilities and decisions on behalf of the child. Most often, this is used when a biological parent leaves guardianship of their child to their spouse who is not the child’s biological parent.
  • Tax Power of Attorney: These are usually used to grant an accountant or family member responsible for handling financial affairs to have the ability to take care of tax issues, including filing tax returns, on behalf of the principal.
  • Vehicle Power of Attorney: This gives an individual the ability to handle vehicle-related affairs on behalf of the principal. These duties can include things such as applying for a new registration, receiving a certificate of title, and transferring ownership.

Need to delegate powers of attorney? Contact The Moodie Law Firm online today and start planning for your future!

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