Being a Power of Attorney is a great deal of responsibility, and there is no bond or license as protection as in similar other agreements. Most power of attorney agreements do not specify how much you should pay the individual representing your interests as a “Power of Attorney.” However, read on to find out more about what a Power of Attorney agreement is comprised of and how much you should pay your attorney drafting it.
A Power of Attorney Agreement may look different in each jurisdiction and state. However, a Power of Attorney Agreement is legal in every state in the United States. Many states require the principal’s signature on the Power of Attorney form to be notarized. Some jurisdictions also require that the signatures of one or more witnesses be notarized.
Sometimes, the lawyer or law firm you work with will charge what is called a “flat rate.” for preparing and submitting your Power of Attorney form. However, not all do. When you are first entertaining the idea of working with a particular attorney, it is a good idea to inquire about what they traditionally charge for preparing and submitting a Power of Attorney agreement.
It may be beneficial to hire an attorney to draft your Power of Attorney agreement in your domestic situation. This could be because of the following situations:
- You and your family have difficulty with ascertaining specific financial or real estate holdings;
- You have Family disagreements, such as with siblings or adult children, on financial matters;
- Or you have a family disagreement on who should serve as the agent for the Power of Attorney agreement.
Your attorney will be able to assist you in what is the best course of action for you and your family. According to the Orange County Courts, you are the principal if you sign a Power of Attorney. The person you appoint to represent you is called the agent or attorney-in-fact1.
However, now that we know what a Power of Attorney agreement consists of, this still leaves the question of how much you can expect to pay to obtain the services of an attorney looking over your best interests in the Power of Attorney agreement.
According to AgingCare.com, “A consumer could probably expect to pay a lawyer less than $200 for a POA in most cities. Many also offer reasonably priced estate planning packages that include a financial power of attorney, a medical power of attorney, a living will, and a last will and testament2” However, you can expect this price to rise during both the Cost of Living Crisis and the closer to you get to urban areas.
However, if you are filing for a Power of Attorney agreement in the state of California, you will also need to budget for the costs of obtaining notary services.
Now that you know the costs of obtaining an Attorney’s legal experience and expertise in crafting the perfect Power of Attorney Agreement, you will be best prepared to consult with an Attorney for your family’s benefit.
1 https://www.occourts.org/self-help/probate/medical-financial-eol/poa.html
2 https://www.agingcare.com/articles/how-much-does-a-power-of-attorney-cost-139457.htm#:~:text=A%20consumer%20could%20probably%20expect,a%20last%20will%20and%20testament.
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