Power of an attorney is an estate planning document that grants another person to manage your affair. POA can either be temporary or permanent. The legal agent has the power to manage your affairs even without your approval. For the people who own a lot of properties, POA create a lot of conveniences. Power of attorney is also granted for the people who are not able to make a legally sound decision. That is most common among the senior citizens who have psychological and physical issues which make them unable to make right decions
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 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 give a legal agent control over your healthj. They are the one who will make medical decisions about you if you cannot. 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. When you are preparing this power of attorney, you will be needed to fill the living will and Do Not Resuscitate (DNR) form. If you are declared mentally incapacitated by a medical practitioner, the medical POA will become active.
The general power of attorney gives the legal agent many powers to make decisions on your behalf. They are going to be dealing with your business, financial, real estate, making legal decisions, among other responsibility. Many people like to limit the general POA to only the time that they are incapacited 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.
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. 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.