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A Louisiana power of attorney is a legal document that acts as the authorization for a person, referred to as the agent or attorney-in-fact, to make financial decisions, healthcare decisions, real estate decisions, or estate decisions on behalf of the person granting authority. A Louisiana power of attorney is most commonly used in estate planning, but there are other times when it is a useful tool.
Quick Reference:
The person granting permission is referred to as the principal, donor, or grantor.
The person receiving authorization is known as the agent or the attorney-in-fact.
A Louisiana power of attorney implies that the power of attorney form complies with Louisiana’s Revised Statutes. This act specifically outlines the parameters of a legally enforceable power of attorney, and ensures that the form, as well as its duties, are protected under the law. In the State of Louisiana, a durable medical power of attorney (or healthcare power of attorney) is the most commonly used POA. Some of the requirements include:
The principal has the right to include the powers the agent does and does not have. Additionally, the principal may revoke or terminate the power of attorney at any point as long as they are considered competent. This remains true even if the power of attorney is durable.
Additionally, a power of attorney is terminated when:
There are many reasons why a person would want to use a Louisiana power of attorney to give another person the legal authority to make decisions related to their personal property, financial institution transactions, tax matters, or their well-being. Some of those reasons may include:
Each person’s power of attorney needs can vary. Thankfully, there are different types of power of attorney documents available. Before you decide to use one, seek legal advice so that you can ask about which one will best suit your needs as well as how you can revoke it if necessary. Here are the most common Louisiana power of attorney documents.
General Power of Attorney
A general power of attorney grants the agent authority to handle affairs on behalf of the principal.
Durable Power of Attorney
A durable power of attorney is an "extended version" of a general power of attorney because it goes beyond the parameters of a general power of attorney.
Limited Power of Attorney
A limited power of attorney grants limited power to whatever the principal specifies.
Healthcare Power of Attorney
A healthcare power of attorney grants power to the agent to make important healthcare decisions on the principal's behalf.
Minor Child Power of Attorney
A minor child power of attorney allows a parent or guardian to grant decision-making rights over their child to a temporary guardian in the case that the parent or guardian may not be present during a medical emergency.
Real Estate Power of Attorney
A real estate power of attorney grants power to the agent allowing them to buy, sell, and manage real estate on the principal's behalf.
Tax Power of Attorney
A tax power of attorney, officially known as R-7006, allows the agent, generally a qualified individual such as an accountant, to prepare and submit tax information to the Louisiana Department of Revenue on behalf of the principal.
Vehicle Power of Attorney
A vehicle power of attorney allows the agent to buy, sell, and handle the necessary paperwork with the Louisiana Office of Motor Vehicles and the Louisiana Department of Revenue on the principal's behalf.
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