How a Power of Attorney Lawyer Helps You Plan Before a Crisis in Northern Virginia
A power of attorney lawyer in Northern Virginia can help you prepare for illness, injury, or incapacity that leaves you unable to manage your finances or property. By planning ahead, you can reduce uncertainty for your loved ones and help avoid added stress or court involvement, especially when a medical crisis arises or an older document no longer reflects your current wishes.
A power of attorney supports a Trust-Based Estate Plan by addressing who can handle financial and legal matters if you cannot. It can complement the Trust by providing authority that may be needed for assets or decisions outside the Trust.
To help you plan with more confidence, McCarthy & Akers, PLC | Estate Planning Attorneys drafts powers of attorney with specific language about what an agent can and cannot do. We also draft these documents to take effect right away, providing flexibility if your agent needs to act on your behalf.
If you want to name an agent or have an existing power of attorney reviewed as part of your estate planning, contact us today to schedule a free one-hour consultation with an estate planning attorney. Call (703) 452-4988 or complete our online contact form.
Key Takeaways
Here is what to know before you sign a power of attorney or rely on one that already exists:
- Under Virginia law, a power of attorney generally stays in effect if you become incapacitated, unless the document says it should end.
- Certain acts, including some gifts, trust-related actions, and changes involving survivorship rights, require express authority under Virginia law.
- Virginia families can address healthcare decisions through a separate advance directive.
- A power of attorney ends at death. It serves during the principal’s lifetime and does not replace the other documents in an estate plan.
- McCarthy & Akers, PLC can help you choose the right agent, define that person’s authority, review older documents, and coordinate your power of attorney with the rest of your estate plan.
What a Power of Attorney Actually Is
A power of attorney (POA) is a written document in which a person, called the principal, gives another person, called the agent or attorney in fact, authority to act on their behalf. In Virginia, powers of attorney are governed by the Virginia Uniform Power of Attorney Act, which addresses an agent’s duties and the scope of authority the document can provide.
A power of attorney is sometimes confused with a will or an advance medical directive, but each serves a different purpose:
- Power of Attorney: Helps you plan for how certain financial and property matters can be handled during your lifetime if you need someone else to step in.
- Will: States how you want certain property distributed after death through the public court process of probate. In a Trust-Based Estate Plan, we use a pour-over will as a backup for assets left outside the trust.
- Trust: Can name a successor trustee to manage trust assets during incapacity and after death, while allowing properly funded assets to pass according to your instructions without probate.
- Advance Medical Directive: Addresses healthcare wishes and can name someone to make medical decisions.
McCarthy & Akers, PLC can help you build these documents into a broader estate plan that reflects how you want decisions handled during your lifetime and how you want to support the people who matter to you. You may also add a Legacy Letter to pass along personal messages, family traditions, and guidance that goes beyond the legal terms of your plan.
What a Power of Attorney Should Address in Northern Virginia
A well-prepared power of attorney document should clearly address several important points, including:
- The Client’s Signature: Virginia law requires you to sign the document, or direct another person to sign in your conscious presence. A notarized acknowledgment can help establish that the signature is genuine.
- A Named Agent: The document identifies the person who can act on your behalf, and you can also name a successor agent if your first choice is unable or unwilling to serve.
- A Clear Description of The Powers Granted: The document should clearly state what your agent is allowed to do, especially for certain actions that Virginia law requires you to specifically authorize, such as making gifts or changing beneficiary or survivorship rights.
- Immediate Authority: McCarthy & Akers, PLC drafts powers of attorney to take effect right away, giving the agent authority to act when needed.
What Your Agent Can Do Under a Northern Virginia Power of Attorney
Depending on how your document is written, your agent may be authorized to handle a range of financial and legal matters, including:
- Manage Bank Accounts and Finances: Pay bills, handle financial transactions, and manage certain day-to-day financial matters.
- Handle Real Property: Buy, sell, lease, or manage real estate on your behalf.
- Address Tax Matters: Prepare and file certain federal, state, local, or other tax documents and handle related payments or communications.
- Manage Insurance and Benefits: Address certain insurance policies, annuities, government benefits, and related financial matters.
- Manage Business Interests: Handle certain business matters or ownership responsibilities.
Benefits of Working With a POA Attorney in Northern Virginia
Working with a lawyer can help families in Northern Virginia create a document that reflects their wishes, family circumstances, and broader estate planning goals.
At McCarthy & Akers, PLC, we take time to look at the bigger picture, including the people you trust, the property and financial responsibilities involved, and how the document fits with the rest of your plan. We can also review older powers of attorney, discuss whether your current choice of agent still makes sense, and coordinate the document with Trust-Based Estate Planning.
How a Power of Attorney Fits Into Your Trust-Based Estate Plan
We prepare a power of attorney as part of a broader Trust-Based Estate Plan, with each document serving a specific role in supporting your family, property, and long-term goals:
- Start With a Conversation: We take time to learn about your family, finances, concerns, and the person you want to name as your agent. You can schedule a free one-hour consultation with an estate planning attorney by calling (703) 452-4988 or using our online contact form.
- Choose the People You Trust: We discuss who should serve in important roles within your plan, including the person you want to act as your agent under the power of attorney.
- Coordinate the Documents: We prepare the power of attorney alongside your trust, pour-over will, advance medical directive, and other planning documents so each part of the plan has a clear purpose.
- Complete the Signing Process: We guide you through the signing and acknowledgment process so the document is properly completed under Virginia law.
- Plan for Future Use: We help you consider who should keep copies and whether your agent or certain financial institutions should have access to the document.
Why Work With McCarthy & Akers, PLC
Choosing someone to act on your behalf is a deeply personal decision, and your legal documents should reflect your wishes, priorities, and the way you want important decisions handled. At McCarthy & Akers, PLC, we help individuals and families across Northern Virginia, including Great Falls and Manassas, create estate plans that reflect their priorities, support the people and property that matter to them, and provide a clear path forward.
Why a Trust Matters Alongside a Power of Attorney
A power of attorney can provide important authority during your lifetime, including if you become incapacitated, but it does not eliminate the need for other estate planning documents. A Trust-Based Estate Plan can provide an additional layer of protection by allowing a successor trustee to step in and manage trust assets if you are unable to act, including situations where an older power of attorney may no longer work as intended.
Virginia law allows a power of attorney to become effective immediately or, when properly drafted, upon a future event or contingency, including incapacity. As part of Trust-Based Estate Planning, the power of attorney is considered alongside the Trust and other planning documents so that the pieces of the plan work together rather than functioning as isolated documents.
Schedule Your Free Consultation and Start Your Power of Attorney Plan in Northern Virginia
Starting your plan can feel like a big step, especially when the decisions involve your family, finances, and future. A conversation with a lawyer about drafting a power of attorney can help you identify your next steps and move forward with greater clarity.
If you are in Great Falls, VA, or another Northern Virginia community, contact us today to schedule a free one-hour consultation with an estate planning attorney. Call (703) 452-4988 or complete our online contact form.
Trust McCarthy & Akers to be your partner in planning for the future.
Frequently Asked Questions
Does a power of attorney let my agent make healthcare decisions?
A financial power of attorney does not automatically give an agent authority to make medical decisions. Virginia allows healthcare wishes and the appointment of a healthcare agent to be addressed through a separate advance directive.
What happens if I become incapacitated without a power of attorney?
Without someone already authorized to manage your financial affairs, your family may need to ask a Virginia court to appoint a conservator or consider other court proceedings, depending on the circumstances. A properly funded trust can provide another way for a successor trustee to step in and manage trust assets during incapacity, which may help avoid the need for conservatorship in many situations.
Can I revoke a power of attorney after I sign it?
McCarthy & Akers designs its power of attorney documents so that prior powers of attorney are revoked when you sign your new document. Our attorneys can also advise you about what should be done with older or outdated documents and whether any additional notice may be appropriate.
What are the different types of powers of attorney?
A power of attorney can grant broad or limited authority and can begin immediately or after a stated event. McCarthy & Akers drafts powers of attorney to be durable, providing greater flexibility and utility for clients if they become incapacitated.
Who can I choose as my agent?
Virginia law defines an agent as the person granted authority under the power of attorney. Whether you choose a family member or another trusted person, consider whether they are responsible, reliable, and comfortable handling the duties you plan to give them.
What is a power of attorney?
A power of attorney is a document that gives another person authority to act on your behalf. In Virginia, that authority can cover your financial and legal affairs, property, and other matters described in the document.
What type of lawyer should review an old power of attorney?
An estate planning attorney familiar with Virginia’s Uniform Power of Attorney Act can review whether an older document still reflects your wishes, assets, current circumstances, and whether it is still valid and can still be used.
Do I need a lawyer to create a power of attorney in Virginia?
Virginia law does not require an attorney to prepare a power of attorney. However, a lawyer can help tailor the document to your wishes and address powers that Virginia law requires you to specifically authorize.
How much does a Power of Attorney Lawyer in Northern Virginia charge?
Fees can vary based on the scope of the estate plan and the documents involved. McCarthy & Akers use flat fees and will discuss with you any additional fees required before you move forward, with cost depending on factors such as property ownership, family circumstances, business interests, and planning goals.