Power Of Attorney For Financial Matters Texas

Texas power of attorney forms enables an individual to choose a trusting person called an agent or attorney in fact to make financial medical parental guardianship minor child and vehicle related decisions on their behalf.

Power of attorney for financial matters texas.

A power of attorney is a written document that authorizes someone referred to as the agent to make decisions or take actions on someone else s known as the principal behalf. It does not permit the agent to make decisions about the principal s health care. It is a financial durable power of attorney this means that it only allows the agent to handle financial matters. Both are known in legal terms as advance directives generally the law addresses.

Power of attorney basics a power of attorney is a legal document whereby one person called the principal gives another person called the agent or the attorney in fact the authority to take certain actions on behalf of the principal. There are also special forms referred to as durable that allow the document to remain effective even if the. A power of attorney lets you appoint someone you trust to handle important financial and legal matters on your behalf either immediately or only if you are unable to make decisions for yourself. A medical power of attorney and a financial power of attorney are typically created in separate legal documents.

Texas s statutory form of durable power of attorney is found in section 752 051 of the texas estates code. Texas power of attorney forms. In texas there are several kinds of powers of attorney that will grant the agent the right to accomplish different things on the principal s behalf.