The execution of a power of attorney transfers substantial authority from one individual to another, granting the agent the mandate to make financial decisions, manage property, and conduct transactions on behalf of the principal. However, the delegation of such authority also creates potential for abuse, misunderstanding, and disputes among family members regarding the agent's actions. The Round Rock power of attorney lawyers at The Law Office of Brett H. Pritchard can represent principals in drafting powers of attorney and in court proceedings. 

What Can Our Power of Attorney Lawyers in Round Rock Do?

Power of attorney documents serve a wide range of purposes, depending on the authority granted and the circumstances in which the document becomes effective. Our firm assists clients with these documents so that they function properly when needed. Here are the services we offer:

Drafting Durable Financial Powers of Attorney

A durable financial power of attorney mandates an appointed agent to manage financial matters on behalf of the individual creating the document. The agent may handle banking activities, property management, and contractual matters as authorized by the document. We carefully draft the provisions to clearly define the agent’s authority while protecting the principal’s interests.

Preparing Medical Powers of Attorney

A medical power of attorney puts an agent legally in a position to decide healthcare matters for the principal when the principal is unable to make those decisions themselves. Texas law imposes specific requirements for medical powers of attorney, including witness requirements and statements regarding the principal's understanding of the authority being granted. We can prepare medical powers of attorney that clearly identify the agent, specify any limitations on the agent's authority, and comply with all statutory formalities.

Drafting Statutory Durable Powers of Attorney

Texas law provides a statutory form for durable powers of attorney that, when properly executed, grants the agent authority over specified matters, including real property transactions, financial institution transactions, and insurance matters. Use of the statutory form creates presumptions regarding the agent's authority that facilitate acceptance by third parties such as banks and title companies. 

Our firm can advise you regarding the advantages and limitations of the statutory form and may prepare statutory powers of attorney when appropriate. A Round Rock power of attorney lawyer at our firm can also offer customized documents that address your specific concerns not covered by the statutory form.

Advising on Agent Selection and Successor Agents

Selecting an agent is one of the most significant decisions in the power of attorney process. The agent will have access to the principal's financial accounts, the ability to sell property, and the authority to make binding decisions affecting the principal's welfare. Our legal team can advise regarding the qualifications to consider in selecting agents. We can also help designate successor agents to ensure that authority remains if the primary agent is unable or unwilling to serve.

Counseling Agents Regarding Fiduciary Duties

An agent acting under a power of attorney occupies a fiduciary position, owing the principal the highest duty of good faith, fair dealing, full disclosure, and loyalty. Agents must act in accordance with the principal's reasonable expectations and best interests, keep the principal's property separate from their own, maintain records of all transactions, and avoid conflicts of interest. We help agents to understand the scope of their authority and the limitations imposed by law to prevent inadvertent breaches.

Revocation and Termination of Powers of Attorney

Circumstances may arise in which a principal wishes to withdraw a previously executed power of attorney, whether due to a change in the relationship with the agent, dissatisfaction with the agent's performance, or simply a desire to execute updated documents. Revocation requires execution of a formal revocation document and delivery of notice to the agent and to third parties who may have relied on the prior document. We can assist principals in effecting proper revocations and, when necessary, in pursuing legal action against agents who continue to act after revocation.

International and Out-of-State Powers of Attorney

Principals who own property in multiple states or who spend time outside Texas require powers of attorney that will be recognized in other jurisdictions. We can help address the varying requirements of other states and may prepare powers of attorney that adhere to the laws of multiple jurisdictions or that include language facilitating acceptance by out-of-state institutions. For clients with international connections, we consider whether the power of attorney should be prepared with attention to foreign law requirements or with certifications that may be required for international use.

Work With Our Round Rock Power of Attorney Lawyer

Preparing a power of attorney involves careful consideration of who will receive authority, how that authority should be structured, and the circumstances in which the document will take effect. Round Rock residents seeking legal guidance regarding powers of attorney may consult with The Law Office of Brett H. Pritchard to explore our diverse legal services. We will discuss personal planning options with you so you can move forward confidently. Contact us at (254) 220-4225 to request a confidential consultation.