Power of an attorney is a legally binding document that gives someone the power to act on your behalf as a legal agent. POA can either be temporary or permanent. The legal agent that is appointed can decide on the management of your property without consulting you. POA creates a lot of convenience for the people who tend to have a lot of wealth. In the case where a person is perceived to be unable to make a sound legal judgment, power of attorney is granted. That mostly include the senior citizens who cannot establish sound decisions because they have a mental or physical problem.
There are different types of power of attorney, and each has a unique purpose. The first type is called the durable power of attorney. It become active when you sign it and will only end after you die. 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.
Medical power of attorney allow you to name a health care agent. They are going to decide on your behalf in the case you cannot make. Some of the critical decisions that they can make include organ donation, choosing health facility, surgical procedure, and medical treatment. When you are preparing this power of attorney, you will be needed to fill the living will and Do Not Resuscitate (DNR) form. It can only be used if only you are declared to mentally incapacitated.
The general power of attorney gives the legal agent many powers to make decisions on your behalf. The legal agent is going to act on your business, finance, real estate, making legal decisions, and many more. A lot of people tend to limit the general POA to only the span that they are mentally or physically incapacitated. In contrast, the unique power of attorney grant the legal agent to act on your behalf only on specific functions. This kind of POA expire when the specified task expires or on the specified time.
Spring power of attorney becomes active on future date or occurrence of an event such as incapacitation. This kind of POA can either be durable or non-durable. The principal can decide on the task that they want to assign to the legal agent.
Depending on your circumstance, there is a power of attorney that will suit 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.