Knowing How Power Of Attorney Works
If you are in need of legal services, you may wonder what choices you have to get your issues resolved in their entirety. Using power of attorney is necessary in some instances. Here is some information about power of attorney to keep in mind so you know whether obtaining this documentation is right for you.
Allow Someone Else To Handle Legal Problems
A power of attorney document specifies a person you select to handle your legal issues on your behalf. If you cannot make decisions, this person steps up and makes them for you. There are different types of power of attorney documents available depending on the kind of problem that causes you to not be able to legally sign documents on your own. If you become incapacitated, a springing power of attorney document allows your agent to handle issues. If you are able to make decisions and sign documents, a durable power of attorney will enable you to give the allowance to your agent to make decisions for you. With a springing power of attorney document, your bank needs proof you are incapacitated before issues are resolved. With a durable power of attorney document, you have more leeway.
Know That Your Agent Can Make Changes
When you have power of attorney documentation in play, your agent is responsible for legal issues if you cannot handle them yourself. Know that your agent can make changes on your behalf, including changing bank account information, which can mean moving money from one place to another. When you select someone to handle your money, it is vital that you use someone who will have your best interest in mind. Some people opt to have two people listed on the power of attorney documentation so another set of eyes is used to ensure your monetary interests are handled correctly.
Be Aware Of Death Stipulations
If you die, your power of attorney documentation becomes null and void. It is only to be used while you are still alive. If the agent you select dies, there is no longer anyone available to handle legal troubles unless you have a backup person listed on your power of attorney documentation. This is another reason why people often opt to select more than one person to be an agent on the documentation. These agents work in tandem unless one happens to pass away, leaving the other person to handle the matters completely.
Contact a lawyer for more information about power of attorney services.
Share
