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 temporary or permanent. The person who is granted the authority can take make decisions without even consulting you. It create a lot of convenience for the people with a lot of ownership as their assets can be effectively managed. Another situation where power of attorney is given is when a person cannot make any sound legal decisions. 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 most common is the durable power of attorney. It become effective on signing and end on the death of the principle. 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 give a legal agent control over your healthj. When you cannot make health decisions, they will do so on your behalf. Some of the critical decisions that they can make include organ donation, choosing health facility, surgical procedure, and medical treatment. You will have to fill a living will or Do Not Resuscitate form, and the legal agent will ensure that you will is followed. It can only be used if only you are declared to mentally incapacitated.
General power of attorney grant a legal agent broad responsibility to act o 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. On the other hand, special power of attorney(limited POA) is only limited to only a specific function. This kind of POA expire when the specified task expires or on the specified time.
Another type of POA is the spring power of attorney; it is activated on a future date or due to the occurrence of an event. It can either be durable or non-durable. You will have to decide on the responsibility that you are going to assign to the legal agent.
For every individual need that you have, there is always a POA form for you. Ensure that you consult a lawyer to assist you in the process. You should choose a reputable law firm such as Request Legal Help to assist you in the complex power of attorney paperwork; click here to learn more.