Avoiding Power of Attorney Abuses. Legal form service online
|
|
|
|
|
|
|
Avoiding Power of Attorney Abuses: Power of Attorney
by Amy Snyder, MSW, Project Coordinator, NYS Office for the Aging.
What is a Power of Attorney?
A Power of Attorney is a written legal document that, in its simplest form, establishes a fiduciary relationship between two individuals. Essentially, it gives someone the authority to act on your behalf.
The person that appoints a Power of Attorney is commonly referred to as the "principal" and the person that they appoint is referred to as the "agent," or the "attorney in fact." Once a Power of Attorney is signed, the agent has the authority to make decisions for the principal.
The Power of Attorney has to be created by a principal who has the mental capacity to understand what he or she is signing. This understanding must be demonstrated at the time that the document is signed.
The authority granted under a Power of Attorney can either be broad or very limited in nature. For instance, a broad Power of Attorney might give the agent control or responsibility over the principal's entire net worth. On the other hand, a limited Power of Attorney only allows the agent to conduct specific business affairs for the principal. There are three types of Power of Attorney. These include durable, non-durable, and springing Powers of Attorney.
A durable Power of Attorney gives the agent the right to continue managing the principal's affairs, even after the principal loses their mental capacity or becomes disabled.
A non-durable Power of Attorney is typically used for a specific reason, such as the temporary management of financial affairs while the principal is physically unavailable.
A springing Power of Attorney allows the principal to plan for the future in preparation for the onset of a specific event that may "spring up," such as illness or disability.
"Avoiding Power of Attorney Abuses: Power of Attorney"
All news
Please read more related legal information:
Power of Attorney Legal Information
Frequently Asked Questions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Different types of powers of attorney
There are "Nondurable ," "Durable," and "Springing" Power of Attorney ...
|
|
|
|
|
|
Protect your relationship by POA
A power of attorney is a document that allows you to dictate who you would like to make decisions ...
|
|
|
|
|
|
Who Will Make Life or Death Decisions?
One of the most difficult things about choosing your legal decision-maker is discussing end-of-life ...
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Thanks for the quick service! I am very impressed with the speed and
quality of your products and service. My husband is stationed in San
Antonio, TX and I am trying to move us from NC to TX by myself- this
power of attorney helped tremendously with so little complication!
Thanks again!
Kimberly S., TX
|
|
|
|
|
|
|
|
| |
Thank you so much. I appreciate your service and will continue to do business.
Didi S, NC
|
|
|
|
|
|
|
|
| |
In a minite I got the power of attorney I need. Incredible website. Will use again.
Nicolas G., PA
|
|
|
|
|
|
|
|
| |
Thanks for your prompt responce. Did not even expect you to be that quick and attentive. Your customer service is superb.
George A., NY
|
|
|
|
|
|
|
|
| |
Thank you for your service, you just earned a customer for life.
Ms. Dove, OR
|
|
|
|
|
|
|
|
|
|
|
|
