Powers of Attorney in Virginia

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Page for page, a Durable Power of Attorney may be the most important legal document you can have prepared. A power of attorney allows one person to act on behalf of another person. In Virginia, this legal document lets you name an agent — also called your attorney-in-fact — to handle your financial and legal matters when you are unable to do so yourself.

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Let our estate planning attorney help protect your wishes

If you are considering creating a durable power of attorney in Northern Virginia, don’t take chances with “do it yourself” services.  Let the experienced estate planning attorney in Northern Virginia at Northern Virginia Trusts and Estates help create a document specifically created for your situation that meets your needs. With a cost of $145 there is no reason to cut corners. When you understand the full power of attorney in Virginia cost up front, you can plan with confidence, and a properly drafted attorney form is worth far more than a generic template.

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Northern Virginia Areas We Serve

Northern Virginia Trusts and Estates specializes in providing low cost estate planning services in Northern Virginia including Arlington, Alexandria, Fairfax, McLean, Vienna, Centreville and all of Northern Virginia. We never charge more than we advertise and we never charge based on the size of your estate.

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What is a power of attorney and why do I need one?

A power of attorney is a relatively straightforward legal document that allows you to designate an agent to conduct your business and financial matters for you. Having a power of attorney is particularly important if you become incapacitated, either temporarily or permanently, so that your business affairs will continue to be transacted smoothly. In addition, without a power of attorney, even your own spouse may be unable to conduct all of your affairs for you.

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Under Virginia law, the person you name is your agent, or attorney-in-fact, and the person granting the authority is the principal. To create a valid power of attorney form, the principal must be of sound mind, and the document should be signed and acknowledged before a notary public. Virginia's powers of attorney are governed by the state's version of the Uniform Power of Attorney Act.

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You can grant particular powers that the person will have, but most powers of attorney appoint the desired person a wide range of powers, including the ability to make agreements with the IRS, bestow gifts on your behalf, manage and transfer any and all assets, and create or make changes to any existing trusts you may have. A general power of attorney can grant broad authority over your finances — from your bank accounts to real estate transactions and real property — while a limited power of attorney narrows the agent's authority to specific matters or a single transaction.

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When you choose someone who will have power of attorney in Virginia, they do not need to have specific information about your current financial situation or any of your affairs.

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However, you can speak to them about how you would like things to be handled and issues that may arise when the time arrives for them to act on your behalf.

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​Virginia also recognizes a durable power of attorney, which remains in effect even after the principal's incapacity, and a springing power of attorney, which only takes effect on a future date or when a specific event occurs. In most cases you can also name a successor agent to step in if your first choice is unable or unwilling to serve.

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Your agent is required to act in your best interest and carry out their duties honestly on your behalf. A power of attorney generally remains in effect until you revoke it, and it will terminate upon your death.

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Is a durable power of attorney all I need for estate planning?

While a power of attorney may be one of the most important things for your estate plan, it is by no means the only document necessary for a comprehensive estate plan. You may also want to have the following documents:

–    Simple Will

–    Guardianship and Trust Will  (if you have minor children)

–    Revocable Living Trust

–    Medical Power of Attorney / Living Will
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​A Medical Power of Attorney, sometimes paired with an advance medical directive, lets your chosen representative make healthcare decisions for you if you are ever unable to make decisions on your own.
 

Count on our estate planning attorney for peace of mind

At Northern Virginia Trusts and Estates, we have over twenty years of experience in wills, trusts, and estate planning in Northern Virginia. You can rely on our experience to help you draft this important document. Whether you need a general power of attorney, a durable power, or a more limited authorization for a specific purpose, our Virginia estate planning attorney can prepare a power of attorney form tailored to your specific needs.