How Much Does a Power of Attorney Cost?
For many people, the power of attorney, sometimes referred to as a “DPOA,” acts a piece of paper that authorizes another person to do legal tasks and actions on their behalf. These legal actions and tasks most often have to do with money, but it can also involve medical decisions.
Because of the personal nature of these decisions, you are able to choose whomever you would like.
Essentially, the power of attorney is given when the person becomes incapacitated to do work or to fulfill their own obligations. In other cases, the document is applied temporarily when the person cannot be in that particular place for a limited amount of time.
How much does a power of attorney cost?
Depending on what needs to be done, a power of attorney can range anywhere from $75 to as much as $450. Typically, a power of an attorney for a single person is going to be cheaper than for a couple. The costs, in the end, will depend on the route you take. If you were to file the paperwork on your own and use an online service, for instance, the costs could be in the $100 to $150 range; however, if you were to use an attorney, then the costs could be as much as $700 or even more if the case was complex and/or you needed to draft a living will as well.
Consumer.org stated that the power of attorney can cost anywhere from $150 to as high as $290. Technically, this depends on the company and the legal aspects that come with it.
Power of attorney overview
Basically, when you appoint another person for the Power of Attorney, you are generally creating a legal representation on your behalf. The lasting Power of Attorney is something that you have to work and deal with if you are someone who is mentally and physically incapacitated due to some accident or ailment. The process requires the assignment of another person to do the work on your behalf. To put things in perspective, it actually gives this person the power to anything on your behalf with any of your possessions or decisions.
For the health inclusive types of Power of Attorney documents, the authorized person is given authority to act on behalf of another in dealing with medical and hospital treatments and such.
What are the extra costs?
Some attorneys often require additional costs to cover other aspects of the legal process such as medical expenses and treatments. Usually, the lawyer who is appointed a contract for the medical power of attorney does not have any right to deal with financial transactions. Hence, if you want to add this to the power of attorney, you might have to pay an additional fee.
Lasting Power of Attorneys’ would also be added costs. Typically, the document will have an expiration stated on when it will be legal. For the longer time frames, you can expect to pay for an added expense.
If the attorney has to travel to a designated location such as a nursing home, travel expenses can apply.
If you need a will drafted, this can be an additional expense.
Tips to know:
It is best to work with the ordinary power of attorney if you are using the limited functions for the other individual. This is necessary on your part to prevent any fraud on any of your personal obligations, especially in terms of financial transactions.
It would be best to include health related affairs to the power of attorney, especially if you are already incapacitated to do the work properly. This inclusion would often help speed up any emergency treatments as the authorized person will no longer have to wait for financial help in cases of emergencies.
Delegating the power of attorney is something that you should do earlier than when it is necessary. If you are incapacitated due to an unexpected injury and are not prepared with the power of attorney paperwork, it will be much harder for your family to figure things out.
Make sure you choose someone that is trustworthy, reliable, and intelligent. This person should know your wishes regarding your money and your health decisions.
How can I save money?
You do not necessarily need an attorney to help you. You can actually fill out forms and get them witnessed and notarized. It can then be filed with the local courts and almost all states will have the form online. LegalZoom, for instance, offers a complete bundle for $149.
If you do not know where to start when it comes to finding a qualified attorney, free services such as LegalMatch.com can help. Talk with a few to see what they can offer and what they charge.
The best way to save on your Power of Attorney is to use the long lasting type. This means that you will not have to request a new one every time the old document expires. Of course, if you are looking for a document that is longer lasting, then you will have to work with someone who you can trust, especially in terms of financial obligations and transactions.
If you meet certain income requirements, some states may help with your legal expenses.
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Average Reported Cost: $0
How much did you spend?
- danzzing (Scottsdale, Arizona) paid $ and said:
So wrong to direct people to use legalzoom or other online or forms based software package It is always preferred that consumer’s pay the few more dollars and have an experienced attorney prepare and answer your questions.
Was it worth it? Yes
