The Importance Of Power Of Attorney

Having a Power of Attorney (POA) can be an important tool for anyone who has a loved one that may become unable to care for themselves.

POAs are designed to protect assets, medical care interests, and property interests. However, a POA can also be abused. Therefore, it is important to know what to do if you suspect someone is abusing their powers.

The first step is to choose an agent that you trust. This person should be a family member, close friend, or an attorney. Typically, a family member is chosen because the person is the closest person to the person who needs the power of attorney. However, if that person is not available, you may choose an agent who has similar beliefs or values. If the chosen agent is not trustworthy, you will need to find someone else.

After selecting an agent, you will need to fill out a legal document. Most states require that this document be notarized. The document will also need to be signed by both the agent and the principal. This process can be time-consuming, and sometimes confusing.

You should also make sure that you choose the right type of POA. Some types are all-encompassing, while others are more limited in their powers.

Generally, you want a POA that is “durable.” This means that the power of attorney will remain in place as long as the principal is alive. However, if the principal becomes incapacitated, it may be destroyed. A “springing” durable power of attorney is also an option, but it is not recognized by all states.

When you are preparing a Power of Attorney, you should choose an attorney with experience in drafting such documents. The attorney should also be familiar with the issues that can arise when a POA is used. For example, you may need to report suspected abuse to law enforcement. You should also make sure that the agent’s compensation is clearly outlined in the document. If the agent does not receive payment in a timely manner, you may need to petition the court to get the money paid out.

You should also consider the level of involvement that the agent will have. For example, you might want to designate a financial agent to handle day-to-day tasks. Or, you might want to designate a trusted friend or family member to make major purchases on your behalf. You should also ensure that you have a backup agent in case the first one is unable to fulfill his or her duties.

When you are drafting a Power of Attorney, you should consult with a lawyer to ensure that your document will meet state laws. You should also review the document frequently. It may be wise to have a lawyer re-draft the document for you if you need to make changes.

Having a Power of Attorney can help you and your family have peace of mind. However, if you are not prepared, you may experience unintended consequences.

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Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.

When you need a Lawyer, contact this law firm:

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West Jordan UT 84081
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