Power of Attorney

A power of attorney is a document that allows one person (the principal) to grant another trusted individual (the agent) to act as an agent on his or her behalf in making certain decisions. There are different types of power of attorney appointments that can deal with making general decisions or limited decisions. A power of attorney can be revoked at any time, but is terminated upon the incapacitation or death of the principal.

A special type of power of attorney is a durable power of attorney. A durable power of attorney allows for the relationship between the principal and the agent to remain in effect even if the principal becomes incapacitated.

There are two types of durable power of attorney, immediate and springing. Immediate takes effect as soon as the principal grants the power of attorney to the agent. The springing takes effect once a specific event occurs, such as a disability of the principal.

A general power of attorney allows the appointed agent to handle the principal’s affairs for a certain amount of time. These decisions can include, buying and selling property, handling bank transactions, file tax returns, entering into contracts, entering into security boxes and settling claims.

A limited power of attorney allows the agent to act on behalf of the principal in specific situations. Similar powers are granted as with a general power of attorney but in addition a limited power of attorney can, sell personal property, collect debts, sell, manage, mortgage property, and borrow money.

A health care power of attorney allows the agent to make health care decisions on behalf of the principal, if the principal is unconscious, mentally incompetent or unable to make decisions on their own.

If you or your loved ones need help with certain aspects of their daily lives please call our office to learn more about granting a power of attorney. (678)-735-5487