A power of attorney is a legally binding document that is allowed to another person and give them the power to act on your behalf in the management of your affairs. POA can either be granted on a temporary or permanent basis. The legal agent that is appointed can decide on the management of your property without consulting you. For the people who own a lot of properties, POA create a lot of conveniences. Another situation where power of attorney is given is when a person cannot make any sound legal decisions. That is most common with older adults who have mental and physical issues that prevent them from being able to make a sound decision.
The power of attorney is of various types. The first type is called the durable power of attorney. The DPOA becomes effective when the agent sign it and it will be active till the death of the principal. Even when the principal is incapacitated, the DPOA will be active. Non-durable power of attorney on the other works for a given period. it will end when the principle either die or become incapacitated.
The medical power of attorney grant you the power to name a health care agent. They are going to decide on your behalf in the case you cannot make. The right medical treatment, organ donation, medical care center, are some of the decisions that the medical-legal agent is going to make on your behalf. You are required to fill the Do Not Resuscitate (DNR) form and the living will when you are drafting the medical POA. The medical POA only become activated when a medical practitioner declare mentally incapacitated.
General power of attorney give the legal agent broad power to act on your behalf. The legal agent is going to act on your business, finance, real estate, making legal decisions, and many more. Many people like to limit the general POA to only the time that they are incapacited On the other hand, special power of attorney(limited POA) is only limited to only a specific function. The specified POA is only valid for the time that is defined by the principal or upon the end of the specified job.
The spring power of attorney becomes active on a specified future date or occurrence of an event. This kind of POA can either be durable or non-durable. The principle will decide on the tasks that they are going to delegate.
There is always a POA form that is fit for your unique needs. A lawyer is very helpful when you are drafting a POA. Click on this link to learn more about trust and estate lawyer who will assist you in the complicated POA paperwork.