A power of attorney is a crucial legal document that enables another person to act on your behalf when you are unable to do so. This power can be specific to a single activity or broad in its scope. It can also provide permanent or temporary authorization for someone else to act. Regardless of the specific type of power of attorney you establish, these legal documents can have a significant impact on your future and the well-being of your loved ones.
What Is a Power of Attorney in Louisiana, and What Does It Do?
A power of attorney (POA), also referred to as a mandate in Louisiana, gives another person the authority to act on someone else’s behalf, usually in regard to medical decisions, financial decisions, or both. In Louisiana, a mandate is a legal contract in which the person granting the authority is referred to as the grantor or the principal, and the person receiving the authority is the mandatary or the agent. State laws also require the agents to accept the authority given to them.
The Different Powers of Attorney in Louisiana
In Louisiana, there are two types of power of attorney: general power of attorney and limited or special power of attorney. The language in these documents will determine the extent to which an individual can make medical, financial, or legal decisions on behalf of another person. In addition, the authority granted in this document can be broad or specific to a particular purpose or transaction.
A General Power of Attorney
A general power of attorney provides broad authority to a specific person to act on behalf of another person. Unlike the more limited powers of attorney, a general power of attorney encompasses a wide range of tasks, including managing financial matters, handling other essential tasks, or signing documents. This power of attorney is usually granted to a spouse, family member, or close friend.
A Limited Power of Attorney
A limited power of attorney refers to “less than all power” and is usually provided for matters of convenience instead of necessity. This document will need to contain specific language regarding what type of authority is being assigned to an agent. For instance, a limited power of attorney is typically used when a principal wants to grant another individual a specific power to do something, such as a real estate transaction, because they are unable to do so.
When Will a Power of Attorney Start in Louisiana?
In Louisiana, a power of attorney usually becomes effective immediately without any official start date or specific event required. However, Louisiana laws also allow for a conditional power of attorney, also known as a “springing” power of attorney. In this case, the principal must clearly state in the POA that a particular date, event, or condition needs to occur for the power of attorney to take effect. This type of power of attorney is commonly used in situations involving capacity issues or when the principal becomes disabled.
Reach Out To Losavio & DeJean Today To Learn More About the Power of Attorney in Louisiana
When you are ready to take the next steps to protect your assets and ensure the continuation of your legacy, our firm is here to help. At Losavio & DeJean, we offer support with estate planning and can assist you with trust issues, creating a Last Will and Testament, and establishing powers of attorney.
For further information about our services or to discuss the power of attorney document in more detail, contact Losavio & DeJean, LLC, today and speak with our skilled legal team.