What Kind of Power of Attorney Do I Need in Oklahoma?

Posted by Alan Finkel on March 16th, 2023

A power of attorney in Oklahoma is a powerful right that one person grants to another. There may be instances when you need to authorize someone to do something that you would ordinarily do yourself but are unable to accomplish for some reason. This includes things like disease or disability. A power of attorney is a legal document that permits you to delegate or assign someone the authority to act on your behalf. Managing your medical, financial, or real estate transactions is one of them. The individual with the authority is known as an agent or attorney.

Choose Wisely

Choosing an agent to best represent your interests is an important component of creating power of attorney. The next critical step in the process is outlining the requirements that will lead to the creation of a power of attorney. Is an individual unconscious? Is it because of their age, health, mental state, or some other factor? Will the situation change so that the individual regains control? These and other questions help you understand why you need a power of attorney and which sort of power of attorney is best for you. POS are typically included in your estate plan as part of your will or trust.

Several Kinds of Powers of Attorney

Oklahoma law recognizes a few different types of powers of attorney:

Limited: A limited power of attorney permits your agent to accomplish a specified thing, such as handle a specific property or an investment account.

Durable: A durable power of attorney has a very broad reach. It can span every major decision in your life, and it does not end when you become handicapped and unable to make your own decisions. To create a durable power of attorney, the law requires certain language.

Health Care Proxy: Under Oklahoma law, a unique sort of medical power of attorney for a primary to make life-sustaining medical treatment and care decisions. If it fits the standards of Oklahoma law, it can be paired with a durable power of attorney. A general power of attorney gives your agent broad authority over many aspects of your life, such as selling or mortgaging your property, opening financial accounts in your name, and so on. This authority must be exercised correctly by a trustworthy and caring person in order to serve your interests. A general POA expires when you become incompetent, die, or withdraw the authority in writing.

The power of attorney you grant can have a wide range of consequences for your life and possessions. It is vital that you fully comprehend the reasons for establishing a power of attorney. This covers its entire capabilities and restrictions, the terms under which it will continue, and how you can terminate it if necessary. A power of attorney carries a lot of authority that you approve in advance to be utilized for you. It is critical that you understand who and how this authority is being used.

To Discuss A Power Of Attorney, Contact An Experienced Estate Planning Attorney In Tulsa.

Call Oklahoma Will & Trust if you require the services of an expert estate planning attorney. A Tulsa Probate Attorney, has the skills and understanding to assist you with all of your estate planning and probate needs. We have a skilled Tulsa estate planning attorney, understands the benefits of protecting your estate and ensuring that your desires are carried out.

Call an experienced Tulsa Estate Planning Lawyer now for a free consultation on how to best save your legacy. To schedule your free consultation, call us now!