Articles For Power of Attorney
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General Power of Attorney: A Quick Guide
Whenever you hear people talking about power of attorney, they’re often talking about different types: General Power of Attorney is one of the most common types.
Other types of power of attorney, such as durable power of attorney, health care power of attorney, and springing power of attorney, can sometimes be enforced under the “general” power of attorney umbrella. It all depends on what a court is willing to enforce as valid. But before you know what the courts will decide, you’ll need to know exactly what general power of attorney even is. So here’s a quick guide that should bring you up to speed in a hurry.
First, it’s important to remember that general power of attorney can often be the most powerful type of power of attorney simply because it contains so many different types of powers and privileges. Health care power of attorney is certainly powerful, but since its scope is sometimes limited in comparison with general power of attorney, it could be said to fall under an umbrella. Note that it’s important to take all types of powers of attorney seriously.
The general power of attorney will often include powers such as signing checks, paying off bills, making real estate purchases in someone’s name, and signing other legal documents that have a wide range of effects on that person’s life. Think about it this way: whenever you sign something, you’re exercising your own personal power of attorney. That’s how powerful this privilege is, and when you sign it over to someone else, that’s essentially what you’re signing over.
Building on this understanding, it’s not hard to see why handing over your power of attorney can have such long-ranging effects. Everything from your personal care to the most intimate personal and financial decisions can be changed as a result of the power of attorney you’ve signed over to someone else.
There are indeed other types of power of attorney, which could be known as more specific types of power of attorney. We touched on a few of them, including durable power of attorney, in which your power of attorney can be used by someone else in the event you are incapacitated such as by disease or car accident. In other cases of power of attorney, your incapacitation might cancel the power-of-attorney you’ve set up for someone else. That’s why this type of power of attorney is called “durable” – it lasts even through your incapacitation.
As you learn more about power of attorney and the legal forms that provide for its structure, you’ll start to see how many rights you do indeed have to give away. These legal rights are to be taken seriously at all stages of life, and you should only sign over power of attorney to someone you trust implicitly. It might be a difficult decision, but if you make it for the right reasons, it might end up being one of the best, most impactful decisions you ever make.
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Know This Rule Before You Grant Power of Attorney
We hear the phrase “power of attorney” a lot in our lives. Maybe we have direct experience with it, or maybe we’ve heard it on television or in the movies. But whatever your understanding of power of attorney, it’s important that you do not take the phrase lightly. That’s because power of attorney is one of your most basic legal powers – and signing it over to someone else can be a life-changing decision.
For some people, it’s the right decision; having someone else handle their legal matters actually works to their advantage, particularly for the elderly or infirmed. But power of attorney can apply to a lot of different situations – and they don’t always mean you should simply sign yours away.
So what do you need to know? What’s the rule you’ll want to follow to ensure that you’re keeping your power of attorney in proper perspective? Here’s the rule we recommend you keep in mind:
Know what you’re signing over before you sign over power of attorney.
Yes, we know you do a good job of handling all of your legal matters and that you’re wise when it comes to signing documents. But the power of attorney form is more powerful than you might imagine. It’s not like signing up for a cellular phone contract. Instead, it’s a form that can potentially transform the way you live your life.
Power of attorney can include such privileges as being able to sign checks and pay debts in your name. Signing up for different services in your name can also take place, which gives someone with your power of attorney a lot of power to use up all of your money if they’re not going to use your assets responsibly.
If this sounds like a scary (and unlikely) scenario, it’s best to keep in mind that it’s also entirely possible with power of attorney granted to someone else. That’s why you should keep our rule in mind.
Now, the chances that you’ve already thought about the consequences of signing over power of attorney before you sign it over to someone else are pretty good. In fact, that’s how it should be. You should also have discussed the power of attorney with someone else – the person who’s going to be recipient of this power.
But because one basic perusal of a power of attorney form will show you exactly how much of an impact it can have on your life, it’s important to repeat this rule. After all, there are those who might take the power of attorney too lightly, and for that reason this rule bears repeating.
If you want to learn more about power of attorney, be sure that you also concern yourself with your country’s laws – and even the individual provincial or state laws that might pertain to your specific situation. A quick Google search of power of attorney isn’t enough; you need to know exactly what it means – and therefore what it potentially means for your life.
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What Is An Advance Health Care Directive?
In setting the legal stage for how you want your life to play out, many people don’t stop and think about an advance health care directive. Heck, a lot of people don’t even know what it means or, worse yet, they simply haven’t heard of it before. So let’s put an end to this lack of knowledge and demonstrate both the definition and the usefulness of the advance health care directive.
First Things First: Definitions
If you’ve ever given thought to what you want to happen to you in difficult circumstances (such as medical incapacitation) then there’s a good chance that you’ve come across a number of legal tools for expressing your wishes through legal documents. That’s all well and good, but if you’ve heard of so many of these tools that you’re not sure which is which anymore, the whole idea becomes confusing – leaving you less likely to take action.
So let’s start with a definition. An advance health care directive is simply a term for the instructions you give for your medical care in advance of any medical incapacitation you suffer as a result of disease or injury. A living will is a document that fits under this umbrella because it follows this exact purpose.
Medical power of attorney, too, is a way for you to use an advance health care directive to establish some sort of plan for what happens when you become incapacitated. In consulting an attorney, you’ll likely discover there are roles for each of these documents as part of an overall advanced health care directive plan; it all depends on what you want to happen and who you want to leave in charge if you don’t have the voice to speak for yourself.
The Uses of Advance Health Care Directives
Needless to say, the potential ramifications of your various advance health care directives are vast indeed. How you want these tools to work in your favor will depend on your own personal opinions, wishes and philosophy.
Figuring out what you want your directives to say will essentially stem from what you want to happen, and that stems from your own viewpoints. Your personal situation (for example, if you know you have health risk factors that might incapacitate you in the future) will have an impact on the kind of directives you want to establish, as well.
Don’t be afraid of accepting outside input – for example, from a trusted lawyer – in crafting your own directives, but remember that it’s also important to stay true to your life principles.
Where to Go From Here?
If you need to establish your own advance health care directives soon, it’s important that you take some sort of action today. Know the different roles that documents like living wills and powers of attorney will have in your directives, and make sure that you feel secure in the decisions you make. This will help you achieve a greater piece of mind, especially as you know that you’ve made arrangements for your future health care.
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4 Power of Attorney Benefits You’ll Want to Remember
Power of attorney is a very, well, powerful thing - but many people aren’t even sure that they know what it comprises, let alone how these characteristics can benefit them one day. Too many people are unaware even that something like power of attorney exists! So what’s a great way to change all that? To keep reading, of course, and to learn just why the Power of Attorney can be a tremendous legal tool for respecting your wishes even when you can’t speak for yourself. Here are four benefits to power of attorney that should shed some light on exactly what it is.
Benefit #1: Your finances can be taken care of even when you aren’t able to take care of them. If you’re incapacitated to a degree that you can’t handle your own finances, then the general power of attorney will give someone else - hopefully, someone you trust - the ability to handle finances for you. That means they’ll be able to endorse checks, make deposits, and generally conduct finances in the same way you would if you were able to. This is a great benefit because it means your property and your estate will still go on even if you’re unable to take care of it yourself.
Benefit #2: You can restrict power of attorney to your specifications, in many cases. Power of attorney is not always something that you simply sign on the dotted line and the legal system takes over - in fact, you will have a great deal of say over what someone with power of attorney can do in your incapacitation or absence. This is a great way to ensure that someone can handle your affairs without the fear that they’ll take advantage of you in some way.
Benefit #3: If you’re not sure about what to do, you can simply assign “general” power of attorney to someone, which allows them to take care of whatever needs taken care of when you’re unable to do it yourself. This general power of attorney can include the aforementioned financial affairs, but it can also mean they handle legal matters, negotiations, property and housing arrangements - just about everything under the legal sun. This is great if you’re unsure as to how to proceed with power of attorney but know you need to assign it to someone in special cases.
Benefit #4: A power of attorney can help you set priorities. One of the most important questions you ask before you sign a power of attorney agreement is simple: who do you trust? Naming a power of attorney means that you have to find someone that you trust with almost 100% trust - someone who you’re sure would never take advantage of you because of the power of attorney situation. If you can find someone like this, it means you know who you trust in this world, and that can be a very good thing indeed.
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Durable Effective Immediately Power of Attorney vs. Durable Upon Disability Power of Attorney
Upon first glance, durable power of attorney and durable (upon disability) power of attorney might not seem very different. Heck, they are both powers of attorney, meaning that they both carry a lot of responsibilities, implicit trust, and legal weight. But when you closely examine the differences between the two, you begin to understand just how a few small differences in a label can mean a big change in terms of the legally-binding responsibilities they carry.
To examine what each of these powers of attorney means, let’s take a look at them one at a time.
Durable (Effective Immediately) Power of Attorney
As in all power of attorney cases, there are two parties involved: the principal and the agent. The principal is the one granting the agent with his or her powers of attorney. When granted power of attorney, the limitations - or lack thereof - that the agent has in the principal’s affairs will be decided on what kind of power of attorney has been granted. If granted a general power of attorney, the agent will have almost unlimited say in the principal’s affairs, including making financial decisions, signing documents, and handling a myriad of other legal situations.
But when durable (effective immediately) power of attorney is invoked, there is a major difference. When the principal has granted an agent with general power of attorney, those powers expire when the principal passes on or becomes incapacitated in some way. But a durable power of attorney can mean the agent possesses power of attorney even after the principal has become incapacitated, meaning that the agent can go on making decisions even while the principal is in a coma, for example.
When durable power of attorney is made effective immediately, that means the power of attorney begins upon the signing and notarizing of the proper power of attorney forms.
Durable (Upon Disability) Power of Attorney
What separates durable power of attorney when it is “upon disability” from the power of attorney we discussed in the previous section? This type of power of attorney is effective only when the principal becomes incapacitated or handicapped. Since this is typically when general power of attorney can expire, it highlights just how different a durable upon disability power of attorney can be, even if it sounds like a similar term.
The difference between durable powers of attorney when they’re effective immediately vs. when they’re effective upon disability are similarly striking, and you’ll want to make sure that you know exactly what each one means. Typically, lawyers are the ones to advise people in this regard, but if you keep in mind these definitions you’ll have a much better idea of what kind of power of attorney might be best for the principal in your life - especially if that principal is you.
Be sure to follow up this article with more research into power of attorney forms to understand just how much legal power shifts hands when a power of attorney contract is signed.
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Using a Power of Attorney for Real Estate Transactions
When people hear the phrase “power of attorney,” they often think of a few predictable things: being able to make financial decisions like write checks and pay off debts, or in the case of medical powers of attorney, making medical decisions. If you’ve never heard of power of attorney for real estate transactions before, you’re about to learn just how comprehensive and sweeping powers of attorney can be - and how they can really help people, or in the wrong hands, hurt people. Let’s learn a little bit more about this power of attorney.
Specifically defined, “real estate power of attorney” can really be a power of attorney granted solely for the use of making real estate transactions. These forms can be filled, signed, and easily handled by many lawyers - in fact, downloading one of these forms online is not hard these days. Not that you should ever download a legal form without plenty of research and sound legal advice in your hands first.
These powers of attorney are, of course, isolated to the ability to make real estate transactions on someone’s behalf - although powers of attorney could include this power, it is possible to restrict the powers of attorney this much, as well. Confused yet? Let’s put it more simply: if you’re granting someone powers of attorney, you can limit their powers as much as you like. Real estate transactions is just one limitation you might choose from.
Typically, people sign “nondurable” powers of attorney with the power to buy real estate, meaning that when you become incapacitated, the “agent,” or the one you’ve assigned the powers to, will not be able to continue carrying on with these powers of attorney. Whenever you hear a phrase like “durable” or “nondurable” in relation to powers of attorney, you should know that that’s what’s being referred to.
Why would someone appoint powers of attorney for the purpose of real estate purchases or sales? Well, there are a number of reasons - if, for some reason, the principal of these powers (the one handing over the powers) is unable to make a real estate transaction but needs it to be done anyway, then appointing someone else the ability to make a transaction in their name might be valuable. Whether someone is overseas and unable to return or there is some other logistical obstacle in the way, power of attorney can be a powerful way to have someone else represent your interest.
With that said, it’s also important to recognize that powers of attorney of any type should only be granted to someone with the implicit trust of the principal. Naming an agent - the person receiving the powers - should typically mean naming a family member or someone else who has known you for a similarly-long amount of time.
Real estate power of attorney can be a powerful thing - which is why it should be given careful consideration before signing. If you’re interested in learning more, be sure to check out online power of attorney forms and see what language they contain.
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Power of Attorney
A power of attorney form is a document that is used to allow one person to give the authority to act on his or her behalf to another person. The person signing the power of attorney grants legal authority to another person to “stand in his or her shoes” and act legally for him or her. The person who receives the power of attorney is called an attorney-in-fact. However, this title and the power of attorney form does not mean that the person receiving the power has to be a lawyer.
Power of attorney forms are useful documents for many occasions. They can be used to authorize someone else to sign certain documents if you cannot be present when the signatures are necessary. For example, a real estate closing in another state can be completed without your presence by providing a power of attorney to a real estate agent (or even a friend) that authorizes him or her to sign the documents on your behalf. Similarly, if you must be away from your home on a trip, and certain actions must be made in your absence, a power of attorney may be granted to enable another person to legally perform on your behalf. The form can also be used to allow your accountant to negotiate with the IRS, allow your secretary to sign checks and temporarily operate your business, or for many other purposes.
Traditionally, property matters were the type of actions handled with powers of attorney. Increasingly, however, people are using a specific type of power of attorney to authorize other persons to act on their behalf in the event of disability. This broad type of power of attorney is called a durable power of attorney and is intended to remain in effect even if a person becomes disabled or incompetent. All states have passed legislation that specifically authorizes this type of power of attorney.
Popular Powers of Attorney Combo Package which contains numerous power of attorney forms. Included are a General Power of Attorney, Power of Attorney for Care of Children and Durable Powers of Attorney which are Effective Immediately and Upon Disability. This combo also includes an Advance Health Care Directive and a Revocation of Power of Attorney form in the event you wish to revoke your Power of Attorney.
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Advance Health Care Directive which allows you to identify the care you want to receive in the event you are incapacitated or unable to express your wishes. This... View More
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Popular Power of Attorney for Care of Children is used when appointing another individual to act as your agent for the care of your children. This document sets out... View More
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Popular! This Power of Attorney for Care of Children (One Parent) is designed to allow a single parent to appoint another individual (an agent) to care for their... View More
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Popular! Durable Power of Attorney which becomes effective immediately upon signing. This document sets forth the specific powers granted to the agent, including the... View More
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Durable Power of Attorney which becomes effective upon the principal's disability or incapacity. This document bestows certain powers (such as entering into legal... View More
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Popular! General Power of Attorney which allows the individual you choose (your agent) to handle all of your business, financial, legal or other affairs at a time when... View More
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General Power of Attorney (With Specific Termination Date) is for use when designating an individual (an agent) to handle your business and legal affairs for a... View More
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Popular - This Power of Attorney for Health Care allows you, the grantor, to designate a trusted individual, the agent, to make necessary health care decisions on your... View More
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Limited Power of Attorney (With do it yourself Options) contains various options so the form can be tailored for your specific needs. This form allows you to... View More
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Limited Power of Attorney in Spanish. This attorney-prepared form contains the necessary provisions for a power of attorney which is limited in scope. Why hire an... View More
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Power of Attorney for Purchase of Real Estate allows you to appoint another individual to purchase real estate on your behalf. This form specifies the agent who is... View More
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Real Estate (Sale) Power of Attorney is for use when you need a limited Power of Attorney for real estate sale transactions. This document allows you to appoint... View More
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Revocation forms which will effectively revoke an existing Power of Attorney. Included are revocations which will revoke health care, general and powers of attorney... View More
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Power of Attorney for Sale of Motor Vehicle will grant another individual the right to sale a motor vehicle on your behalf. This form is for the specific purpose of... View More
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