Power Of Attorney For Financial Matters Texas

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 for financial matters texas.

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. There are also special forms referred to as durable that allow the document to remain effective even if the. Texas s statutory form of durable power of attorney is found in section 752 051 of the texas estates code. A medical power of attorney and a financial power of attorney are typically created in separate legal documents.

Texas power of attorney forms. A power of attorney lets you appoint someone you trust to handle important financial and legal matters on your behalf either immediately or only if you are unable to make decisions for yourself. 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. It does not permit the agent to make decisions about the principal s health care.

It is a financial durable power of attorney this means that it only allows the agent to handle financial matters. Texas has separate power of attorney requirements for financial matters and for healthcare. Both are known in legal terms as advance directives generally the law addresses.