Estate planning requires considerable planning and deliberate decisions. Through a Louisiana power of attorney, the State of Louisiana allows you to confer power to another individual to manage your finances, make healthcare decisions, and undertake administrative duties. A power of attorney is a must-have for businesses and individuals that want to prepare for unforeseen circumstances that will disable their decision-making ability, such as incapacitation or death. We go through the uniqueness of getting a Louisiana POA, the types, and which one to choose.
What Is a Louisiana Power of Attorney Form?
A Louisiana power of attorney is a legal authorization to appoint an individual to enact decisions for you in the state of Louisiana. In Louisiana, a POA is a mandate or procuration. The individual granting the authority is the principal, while the entity enacting the decisions on behalf of the principal is the agent o attorney-in-fact. The agent can make financial, legal, healthcare decisions buy and liquidate assets on behalf of the client, among other administrative tasks such as signing forms for the principal.
Note: Louisiana laws regulate the POA, and the agent cannot contravene the agreement. Acting outside the principal’s interests which is the fundamental rule of a POA, will invalidate the POA, and the court can override it.
Types of Louisiana Power of Attorney Form
Louisiana powers of attorney confer broad or limited authority to the attorney-in-fact. You need to know the different POAs available to choose one that suits your needs. The following are the most common types of powers of attorney in Louisiana:
Durable power of attorney
A durable POA takes effect when you sign it and remains valid even when you become incapacitated. With A durable POA, the principal confers authority to the agent to enact decisions on behalf of the principal.
General power of attorney
A general POA offers broad authority to the agent. The agent can make vast financial decisions, including completing transactions and opening bank accounts. However, when the principal becomes incapacitated, the POA is no longer valid.
Limited power of attorney
Limited power of attorney limits the agent to act within certain purviews. The principal usually appoints an agent with expertise in the area.
Tip: Be specific with a limited POA to leave less wiggle room for alternative interpretation. Avoid ambiguous terms.
Medical power of attorney
A medical POA allows the agent to make healthcare decisions regarding the principal’s health. The agent will make choices on resuscitation, life-prolonging procedures, end-of-life wishes, and approve surgery options. Medical POAs assume the principal is incompetent to make intelligent medical selections.
Springing power of attorney
Springing POAs come into effect at a specific date when a particular condition is met, usually incapacitation. Springing POAs are durable.
DMV power of attorney
Department of Motor Vehicle POA limits your representative to make choices for motor vehicle transactions only. They can also represent you in court for litigations involving your vehicle.
Real estate power of attorney
Real estate POA designates a representative to execute real estate purchases and manage your real estate investment. The representative usually will act in ordinance with the principal’s typical mode of real estate management. Closing agents are traditionally the preferred representatives for real estate POAs.
Minor(child) power of attorney
A child’s power of attorney is an authorization the principal issues to the mandate to represent the child’s best interest if the principal cannot do so. The agent is responsible for using the client’s assets to pay education healthcare fees and ensure the general well-being of the principal’s child.
Note: Louisiana considers all POAs durable unless you explicitly state otherwise. Despite the type of POA, it loses its usefulness after the principal’s demise, where a will executor takes charge.
Louisiana Durable General Financial Power of Attorney Form
Durable Health Care Power of Attorney Form
Limited Power of Attorney Form
Power of Attorney to Sell Real Estate in Louisiana
Limited Power of Attorney
Power of Attorney for Title Registration
Power of Attorney to sell Vehicle
Power of Attorney and Declaration of Representative
How to Get a Power of Attorney in Louisiana
POAs are available from Louisiana state websites, online template providers, and at your attorney’s office. The forms range from minimalistic to fully-fledged detailed POAs. After you download a POA document or source one at the attorney’s, the following are steps to complete for obtaining a POA in Louisiana:
1. Choose an agent
Designate an agent or mandate to manage your legal, financial, or health care matters. Vet your potential appointees and settle on a trustworthy individual with expertise in estate planning. Many principals appoint their attorney; however, anyone can be your agent if they are over 18 and of sound mind. It is best to discuss with your family when choosing an agent.
2. Delegate the powers
Liaise with your attorney to carefully draft the powers you wish to assign your fiduciary. Concisely describe the duties the agent will perform on your behalf.
3. Sign the form
Sometimes principals issue POAs vocally, but in Louisiana, you will have to affix your signature on the form with witnesses’ signature to validate the POA. Witnesses are any individuals of legal age. Make copies of the POA, keep one with you and one with your attorney. Immediately you sign the POA, unless it is a springing POA, it comes into effect.
Note: A principal can always revoke the POA as long as they are competent. Other provisions for overriding the POA are challenging an agent’s actions or the POA’s validity in a Louisiana court.
Louisiana state laws dictate that the POA must be notarized, witnessed, signed, and filed. Remember, you cannot include the POA agent as your witness.
The rates for getting a power of attorney differ significantly across law firms and your location in Louisiana. Many law firms charge north of $250 to fill and file a POA. The fee usually includes a general POA and a medical power of attorney.
Yes, it is one of the most common types of POA as it supersedes invalidation of the POA on the grounds of incapacitation. All other types of POAs except a springing POA are durable by default unless you state otherwise.
A power of attorney prepares you to handle unprecedented unfortunate circumstances such as death or incapacitation. When consolidating your trusts and amending your will, remember to have a POA. If you encounter difficulty obtaining a POA form in Louisiana, refer to this article. Remember to have a legal counsel breakdown the legalese in the form before signing it into effect. An attorney who specializes in estate planning fills the bill.