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New Mexico Legal Group

Power of Attorney

Choosing who should act under a power of attorney and what they should be able to do should be a well thought out decision. An agent under a power of attorney is a fiduciary role and the agent is required to act in the best interests of the principal. This is why it is important to select someone you absolutely trust with this responsibility, whether it be a loved one or a professional fiduciary. There are different types of power of attorney to choose from that give you the option to decide if you want financial decisions to be made on your behalf or not. 

Types of Power of Attorney

General Durable Power of Attorney:A general durable power of attorney allows a person chosen by you to handle personal business matters relating to your property, as well as make other financial decisions on your behalf, if you become unable to make those decisions for yourself.  

Limited Power of Attorney: This can be a good option if you only wish to have someone act on your behalf for particular matters. This person will only be able to act on your behalf for the items listed in the agreement. Limited power of attorney can be very effective and provide you peace of mind in connection with those specific matters, but you still should have a general power of attorney in place.  

Springing Power of Attorney: A springing power of attorney can be set to go into effect only when two medical providers certify that you can’t make your own decisions due to mental or physical incapacitation.  

When You Might Need a Power of Attorney in New Mexico

Having a power of attorney in place can be helpful in the event you are ever unable to care for yourself or make decisions. Although this isn’t the most enjoyable thing to think about, setting up a power of attorney while you are able to make decisions can be one of the best decisions you make for yourself. This way you are able to select someone you trust to act in your best interests when you are unable to rather than leaving that decision to a judge in a conservatorship proceeding.  

New Mexico Estate Planning Attorneys That Are Here to Help

Setting up a power of attorney is no easy task. With multiple options this can be overwhelming. Our estate planning attorneys are here to help inform of your options, help you choose the option that is best for you, and guide you through the process. We are experienced in all matter of estate planning and can help you draft the appropriate power of attorney form to help you be prepared for the unexpected. If you have any questions about drafting a power of attorney form contact us today. 

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Frequently Asked Questions

How do I get power of attorney?

If you want to be named as someone else’s agent under a power of attorney, the other person will need to sign a power of attorney document. Keep in mind that the other person needs to have legal capacity to sign and must be signing of his or her own free will. If there are doubts about the other person’s capacity, you may need to go to court to be named the person’s guardian and/or conservator.

How can I remove power of attorney from someone?

If you have named someone as your agent under a power of attorney and now want to remove them, you can simply execute a new power of attorney which names the new agent of your choice and revokes all previous powers of attorney. You will need to give a copy of your new power of attorney to anyone who was given a copy of your old power of attorney so that they are aware of the change.

If you have concerns about whether a disabled loved one’s agent is abusing their authority and you think the agent should be removed, you most likely will need to go to court to have a guardian and/or conservator appointed. There is no way for one person to unilaterally remove someone else’s legally appointed agent without a court proceeding.

How do I make provision to power of attorney?

To change the provisions of a power of attorney or health care directive, you need to execute a new document which revokes all prior documents. You also need to make sure that the new document is given to everyone who received a copy of the old document; if you don’t, then those people are entitled to rely on the provisions of the old document.

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Need Power of Attorney Legal Assistance From a New Mexico Attorney?

Call New Mexico Legal Group at 575.339.2100 or get started with a free case evaluation.

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