Power Of Attorney For Financial Matters Texas

Texas has separate power of attorney requirements for financial matters and for healthcare.

Power of attorney for financial matters texas.

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

Texas power of attorney forms. Texas s statutory form of durable power of attorney is found in section 752 051 of the texas estates code. Powers of attorney are very useful for anyone to have in place no matter what one s age might be. There are also special forms referred to as durable that allow the document to remain effective even if the.

It is a financial durable power of attorney this means that it only allows the agent to handle financial matters. The texas power of attorney act which is contained in chapter 7 of the texas probate code allows a resident to transfer financial and health care decision making powers to another individual. 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.