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.

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.

The texas power of attorney act which is contained in chapter 7 of the texas probate code allows a resident to transfer financial and health care decision making powers to another individual. 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. Texas has separate power of attorney requirements for financial matters and for healthcare. It is a financial durable power of attorney this means that it only allows the agent to handle financial matters.

Powers of attorney are very useful for anyone to have in place no matter what one s age might be. Both are known in legal terms as advance directives generally the law addresses. It does not permit the agent to make decisions about the principal s health care.