Before we begin about how to get a power of attorney for elderly parents in Texas, let us start by defining Power of Attorney, for the individuals venturing these deep waters for the first time. The first thing you need to understand is that the Power of Attorney is a written authorization that allows the authority to a person to make decisions for another person, especially a loved one. This comes in handy when the principal-agent or the authority is in no position to act by him/herself.
A power of attorney covers everything related to a person’s life to varying degrees and includes the following, as well as a few other features. Let us have a look.
- Real Estate
- Financial Deals
- Asset Management
The principal types of Power of Attorney
As far as Texas is concerned, there are five significant types of Power of Attorney. If you are looking to learn more about them and in detail, you should connect with an attorney-at-law. The following are the significant types of Power of Attorney available in the state of Texas – Durable Power of Attorney, General Power of Attorney and Limited Power of Attorney.
Power of Attorney for the elderly
There are three primary ways of going about this in the state of Texas. However, it would be best if you kept in mind that the modes are dependent on the situation you and your parents face. The most common case is when the parent has fallen ill and cannot make any decisions on their own even if he/she is mentally aware of what is going on. It is quite a common area of concern, and organizations like the AARP are all about such situations.
The three general ways are listed as follows.
When the parent is of sound mind
If your parent is of sound mind, then he/she can sign a power of attorney over to you. This means that your parent fully understands the rights and privileges that they are signing over to you.
The living will
In a situation where the parent is already incapacitated, but they have already outlined the transfer of Power of Attorney, as a part of the living will, then there is nothing to be done further except executing the requirements regularly.
The Conservatorship mode
This is the situation where the parent is incapacitated but didn’t mention a transfer of Power of Attorney through the living will. In this case, you need to appear before a judge to obtain the conservatorship. Keep in mind that this system is often a prolonged one, and you will need to deal with courts. Therefore, you must work with an estate planning attorney at the start of the procedures.
Power of Attorney forms is available online and at local libraries. Still, the language is technical, which means that to avoid confusion; you should consult a legal expert to figure out the situation and processes. All the best.