There are several legal documents you need when planning for your future. One of the most important and overlooked one is the Power of Attorney (POA).
A POA is crucial when you’re setting up plans for your finances, medical care, or both. You must understand what a POA is and why you need one. You should also know the cost of getting one. The price of getting a POA depends on the type and method of preparation. This guide breaks down what you need to know about the cost of a POA.
Understanding the Importance of a POA
A Power of Attorney is a crucial legal document. It allows you, the principal, to grant another person the power to decide on your behalf. This individual is your agent or your attorney-in-fact.
Your agent can make decisions related to your finances and other legal obligations. They also have the authority to decide on health care and medical treatments.
A POA can be temporary or permanent. It could have broad or limited powers depending on the document. So what are the 4 types of Power of Attorney?
- General Power of Attorney: The agent has power over legal and financial affairs.
- Limited (Special) Power of Attorney: Agents only act on a specific task, like signing a deed.
- Durable Power of Attorney: Agent keeps authority if the principal becomes incapacitated.
- Medical Power of Attorney: This is also called an Advance Health Care Directive. It focuses on healthcare decisions for the principal. The agent has the authority to consent to or refuse medical treatment. They can access your medical records and change your doctors. You can use an MPOA to ensure they follow your long-term care arrangements.
How Much Does It Cost to Get a Power of Attorney?
POA fees vary based on how you prepare the document, your location, and who assists you.
- Free or Low-Cost Options ($0 to $100)
You can prepare a Power of Attorney for free or at a minimal cost. You can do this if your needs are straightforward. There are online templates you can use. Many states now offer free POA forms via their official websites.
You can also check out online legal platforms for a basic POA. You’ll have to pay anywhere from $35 to $100. You can also qualify for free legal help if you’re a senior or a veteran. Low-income individuals also get help from non-profit legal aid.
- Notary Fees ($15 to $75)
Many states only consider notarized POAs valid. Notary fees often cost $15 per signature. This could go up if you’re working with a mobile notary who charges travel fees. This service could cost around $50 to $75.
Some states accept witnesses instead of notarization. Notarization is often preferred as it’s a more secure option.
- Attorney Fees ($300 to $1,000+)
Hiring an attorney to draft your POA is the most reliable but expensive route. Attorneys-at-law offer expert advice. They’ll tailor the document to your needs and ensure it follows state law. Fees for their services vary.
- Basic POA: $300 to $500
- Durable or Medical POA: $400 to $700
- Full Estate Plan Package: $1,000–$2,500
This package includes a POA, will, or a living trust. Attorneys can also include a Medical POA or Advance Directive in this package. It will cost an extra $100 to $300. Hospitals and clinics provide MPOAs for free during patient intake. You can also look for state-approved forms online.
Do You Need a Lawyer for a POA?
It’s always good to have the help of a legal expert. It also makes sense to forego a lawyer for simple situations. For example, you don’t need a lawyer to appoint your spouse to manage your finances. An online service is enough.
It’s different if you own a business or have real estate in several states. A POA prepared by an attorney would be a good investment here. You also need this document if you’re concerned about family disputes. It’s also the best way to enforce your medical decisions.
Legal Help You Can Trust
A serious injury or medical malpractice can turn your world upside down. The experienced attorneys of Warner and Warner can help fight for your rights. We’re one of Florida’s top trial attorneys. We bring compassion, dedication, and proven results to every case. You don’t have to navigate the legal system alone. Contact us or call 321-450-7902 for a free case review. Your future deserves powerful representation.