Many Ohio residents believe estate planning is only for the wealthy, but every adult should have a power of attorney (POA) in place. Without one, your loved ones may face a lengthy and expensive court process if you become incapacitated. Taking this simple legal step ensures your wishes are honored and your affairs remain in trusted hands.
What Is a Power of Attorney?
A power of attorney (POA) is a legal document that allows you (the principal) to appoint someone you trust (the agent) to make financial, legal, or healthcare decisions if you’re unable to do so.
At Mizak & Pacetti, we help families in Parma, Ohio, create POAs to protect their future. There are two primary types:
- Financial Power of Attorney – Authorizes someone to manage banking, real estate, and other financial matters on your behalf.
- Healthcare Power of Attorney – Allows a trusted individual to make medical decisions for you if you cannot communicate your wishes.
The Risk of Guardianship Without a POA
Without a POA, your family may have to go through a court-appointed guardianship process if you become incapacitated due to illness, accident, or aging. This can be:
- Expensive – Court and legal fees can add up quickly.
- Time-Consuming – The process can take months, delaying critical decisions.
- Out of Your Control – A judge, not you, determines who will manage your affairs.
- Emotionally Draining – Guardianship battles can create family conflict and stress.
By setting up a POA in advance, you can avoid these challenges and ensure your affairs are handled without court intervention.
Common Misconceptions About Powers of Attorney
Many people delay creating a POA due to these common myths:
- “I’m Too Young to Need One” – Accidents and medical emergencies can happen at any age. A POA ensures someone you trust can step in if needed.
- “My Spouse or Kids Can Handle Everything” – Without a POA, even your closest family members may need court approval to manage your affairs.
- “I’ll Do It Later” – A POA must be created while you are mentally competent. Waiting until an emergency could be too late.
How to Get a Power of Attorney in Parma, Ohio
Creating a POA is simple but must meet legal requirements. Working with an experienced estate planning attorney ensures your document is properly drafted. A valid POA should be:
✔ Clearly Defined – Specifies what powers your agent has.
✔ Durable – Remains valid even if you become incapacitated.
✔ Up-to-Date – Reflects any changes in your life circumstances.
Frequently Asked Questions About Power of Attorney in Ohio
What Does a Power of Attorney Do in Ohio?
A Power of Attorney allows you to appoint someone to make legal, financial, or healthcare decisions if you’re unable to. In Ohio, POAs can be used for tasks like managing bank accounts, selling property, or making medical decisions during emergencies.
Do I Need a Lawyer to Create a Power of Attorney in Ohio?
While you can create a POA without a lawyer, working with a qualified estate planning attorney ensures your document is legally valid and tailored to your needs. Incorrectly drafted POAs may be rejected by banks, healthcare providers, or the courts.
What Happens If I Don’t Have a Power of Attorney in Ohio?
Without a POA, your loved ones may need to go through the guardianship process in Ohio, which can be expensive, time-consuming, and emotionally challenging. A POA helps you avoid court involvement and ensures someone you trust manages your affairs.
Is a Power of Attorney Valid After Death in Ohio?
No. A Power of Attorney ends upon the death of the principal. After death, only the executor named in your will or appointed by the probate court can manage your estate.
How Do I Revoke or Change a Power of Attorney in Ohio?
To revoke or change your POA, draft a revocation document, notify your agent in writing, and inform any banks or institutions where the POA is on file. It’s recommended to work with an estate planning attorney to ensure the revocation is legally binding.
Protect Your Future – Get Started Today
A power of attorney is one of the most important legal documents you can have. It ensures that a trusted person can manage your affairs if you’re unable to do so, preventing legal complications and unnecessary expenses.
Don’t wait until it’s too late. Contact Mizak & Pacetti today to set up your power of attorney and secure your future.