POWER OF ATTORNEY
What Is Power of Attorney?
Sometimes it may become necessary to have a representative make certain decisions or take action on your behalf. These decisions can be related to your finances, your property, medical treatment if you become incapacitated, or a variety of other business and legal issues.
A power of attorney (POA) is a legal document that grants another person the right to make specific decisions for you. When you give someone power of attorney, you are referred to as the “principal” since you are the one giving someone else authority over some of your affairs. The person you are authorizing to act in your place is called the “agent” or “attorney-in-fact.” Your agent or attorney-in-fact can be anyone you assign and does not have to be a lawyer.
The Different Types of Power of Attorney
There are several types of power of attorney. Some types apply only to a specific action or aspect of your life, while others may apply to a broad range of activities. Power of attorney, however, will expire in the event that you pass away or become physically or mentally disabled. A “durable power of attorney” is designed to continue even if you become incapacitated. A durable power of attorney can be an important part of a living will or health care directive.
For instance, you may specify a durable power of attorney to an agent who will be responsible for treatment decisions, such as when to withhold life-support, if you are injured and unable to communicate your wishes on your own. As with other types, a durable power of attorney will only remain in effect while you are alive.
Another type, called a “springing power of attorney,” can be used as an alternative to a durable POA. A springing power of attorney goes into effect only if you are incapacitated. For example, a springing financial power of attorney could be used to grant someone the authority to make financial or business decisions for you in the event that you are in a coma.
Use The Document People to Prepare a Durable Power of Attorney
We can prepare two types of durable power of attorney so you can be ready for the future. The first is a durable power of attorney for financial matters. The second is for allowing an agent to make medical decisions for you. These can also be included as part of our living trust and living will services.
If you’re ready to get started, please contact us for pricing and additional information.