Power Of Attorney For Financial Matters Texas

A medical power of attorney and a financial power of attorney are typically created in separate legal documents.

Power of attorney for financial matters texas.

Texas power of attorney forms. A power of attorney is a written document that authorizes someone referred to as the agent to make decisions or take actions on someone else s known as the principal behalf. In texas there are several kinds of powers of attorney that will grant the agent the right to accomplish different things on the principal s behalf. Power of attorney basics a power of attorney is a legal document whereby one person called the principal gives another person called the agent or the attorney in fact the authority to take certain actions on behalf of the principal.

Texas s statutory form of durable power of attorney is found in section 752 051 of the texas estates code. Both are known in legal terms as advance directives generally the law addresses. It does not permit the agent to make decisions about the principal s health care. Texas has separate power of attorney requirements for financial matters and for healthcare.

Powers of attorney are very useful for anyone to have in place no matter what one s age might be. Texas power of attorney forms enables an individual to choose a trusting person called an agent or attorney in fact to make financial medical parental guardianship minor child and vehicle related decisions on their behalf. There are also special forms referred to as durable that allow the document to remain effective even if the.