A power of attorney (POA) is one of the most powerful legal documents an individual can possess. Having a POA carries significant responsibility. If it’s in the wrong hands, it can open the door to wrongdoing. Here’s what you need to know about a power of attorney in Ohio.
What is A Power of Attorney in Ohio
In Ohio, it is a legal document that gives an individual, called the ‘agent’ or attorney-in-fact, the authority to act on behalf of someone else, called the ‘principal.’
The ‘agent’ can have either extensive or limited authority to make legal decisions about the ‘principal’s’ property, finances, or healthcare, depending on the terms of the POA.
Responsibilities and Scope of Authority
If you have a power of attorney in Ohio and become unable to act on your own behalf due to mental or physical incapacity, your agent or attorney-in-fact may step in to assist. They can make financial decisions to ensure your well-being and provide for your care. For example, they may need to pay bills, sell assets to pay for medical expenses, and take steps for Medicaid planning for you.
Other important tasks a power of attorney in Ohio can authorize someone to carry out include banking transactions, real estate decisions, dealing with government or retirement benefits, and healthcare billing.
Under Ohio law, you can have a POA that continues in effect after incapacity (called a “durable” POA), or one that goes into effect only if the principal becomes incapacitated (called a “springing” POA). The power of attorney requirements in Ohio are found in Title XIII of the Ohio Revised Code.
Types of POAs
There are several types of POAs, as well as various degrees of responsibility that can be delegated to them. Here is a quick overview of the different types of POAs:
General POA
This starts when it is signed and continues in force until you become mentally unable to make coherent decisions. It is important to state exactly what authority you are giving your agent. It could be something very specific, like giving your attorney the power to sign a deed of sale for your house while you’re on a trip around the world.
This is called a “limited power of attorney” and it can be quite common in everyday life. One common use of it is what is called discretionary money management. This is what gives money managers the authority to buy and sell investments on their client’s behalf based on their own decisions, not their client’s. You could also specify a much broader range of powers. This could include access to your bank accounts (what’s known as a “general power of attorney”).
Durable POA
A durable POA begins when it is signed but stays in effect for a lifetime unless you initiate the cancellation. Words in the document should specify that your agent’s power should stay in effect even if you become incapacitated. Durable POAs are popular because the agent can manage affairs easily and inexpensively. Learn more about the value of a Durable POA for elder care here.
Medical POA
A medical POA, or durable power of attorney for healthcare decisions, or healthcare proxy, is both a durable and a springing POA. The springing aspect means that the POA takes effect only if specific conditions take place. As long as the principal is conscious, and of sound mind and body, the medical POA will not be triggered. Some medical POAs are written to end when the principal recovers from the incapacitating condition. You can have different POAs for different situations and appoint different agents to hold them as well.
Springing POA
This POA comes into play only when a specific event occurs—your incapacitation, for instance. A springing power of attorney must be very carefully crafted to avoid any problems in identifying precisely when the triggering event has happened.
A Will Is Not a Power of Attorney in Ohio
Do not expect your will to serve as a substitute for a power of attorney. A will designates the distribution of your property after death. Meanwhile, a power of attorney in Ohio is related to decisions made during your life.
However, you can have a living will in addition to a healthcare POA. Living wills typically outline specific preferences regarding medical treatment in the event of a terminal condition or end-of-life care, including decisions about the use of lifesaving measures.
A living will does not always deal with other important medical issues, however, such as whether you would decline dialysis or a blood transfusion. These are the kinds of concerns that can be directly articulated in a durable power of attorney for healthcare decisions.
Create a Power of Attorney in Ohio Now
Manning & Clair Attorneys At Law have extensive experience creating POAs. This allows family members and guardians to effectively manage the affairs of loved ones. Put our experience to work for you and contact us now.
Manning & Clair Note: The information shared here is intended for a general overview and discussion of the subject. It is not intended to be, and should not be used as, a substitute for taking legal advice in any specific situation. Please consult an attorney for advice about your individual situation.
