Law Office of Macklin K Everly

When planning for the future, many people focus on wills and trusts to ensure their assets are distributed according to their wishes after they pass away. However, one of the most critical components of any estate plan involves powers of attorney (POA). These documents allow you to appoint someone to make decisions on your behalf if you become incapacitated or are otherwise unable to do so.

In Ohio, there are several types of powers of attorney, each serving a different purpose. Having the right POA in place ensures that your financial, medical, and legal matters are handled by someone you trust. Let’s explore the different types of powers of attorney recognized under Ohio law.

1. General Power of Attorney

A general power of attorney grants broad authority to an individual (referred to as the “agent” or “attorney-in-fact”) to manage your financial affairs. This includes handling bank accounts, paying bills, managing property, and conducting business on your behalf. The authority under a general POA typically ends if you become incapacitated, unless it is specifically drafted to be durable.

Best for: Short-term needs or when you want someone to manage all aspects of your financial affairs.

2. Durable Power of Attorney

A durable power of attorney functions similarly to a general POA, except that it remains effective even if you become incapacitated. In Ohio, a durable POA must explicitly state that it will continue after incapacitation in order to remain in effect. This document is essential for long-term estate planning because it allows your appointed agent to make critical decisions when you’re no longer able to do so.

Best for: Long-term financial management and ensuring continuity in case of incapacitation.

3. Limited (Special) Power of Attorney

A limited power of attorney grants the agent authority to handle specific matters or transactions on your behalf. This could be something like managing a real estate sale or handling a specific financial account. Unlike a general or durable POA, a limited POA is restricted to a particular task and often expires once that task is completed.

Best for: Delegating authority for a specific transaction or situation without granting broad powers.

4. Healthcare Power of Attorney

A healthcare power of attorney allows you to designate someone to make medical decisions on your behalf if you are unable to do so. This includes decisions about medical treatments, surgeries, and end-of-life care. In Ohio, a healthcare POA can only take effect if a doctor certifies that you’re unable to make your own healthcare decisions.

Best for: Ensuring a trusted person makes critical medical decisions in line with your preferences when you cannot communicate them yourself.

5. Springing Power of Attorney

A springing power of attorney becomes effective only upon the occurrence of a specified event, most commonly the incapacitation of the individual. This type of POA can offer peace of mind by ensuring that you retain full control of your affairs until the predetermined condition occurs.

Best for: Those who wish to maintain full control of their finances or healthcare decisions until they are no longer able to do so.

Choosing the Right Power of Attorney

Selecting the appropriate type of power of attorney for your estate plan depends on your unique needs and circumstances. Each type of POA offers varying levels of authority and flexibility, so it’s essential to work with an experienced attorney to determine what’s best for you and your loved ones.

The Law Office of Macklin K Everly specializes in crafting personalized estate plans for Ohio clients, including drafting powers of attorney documents. Whether you need help with financial management, healthcare decisions, or both, I can guide you through the process to ensure your wishes are protected.

Schedule a free consultation with me today to discuss your estate planning needs!