Power of Attorney
Power of attorney is an agreement – usually a written and signed legal document – between two parties: the designator (or principal) and the attorney in fact (also known as the agent). The attorney in fact is given power by the designator to act on their behalf in certain circumstances, including:
- Other Specific Situations
The attorney in fact does not have to be a legal representative – although it can be if the designator so desires. An attorney in fact can be a:
- Family Member
- Trusted Acquaintance
- Longtime Friend
- Professional (Lawyer, Doctor, Accountant, etc.)
There are many different types of powers of attorney, intended to meet the specific needs of the designator in different situations, such as:
- Durable Power of Attorney
- Medical Power of Attorney
- Power of Attorney for School
Durable Power of Attorney
A durable power of attorney is intended to act on behalf of the designator in an almost unlimited capacity in matters such as:
- Health Matters
- Legal Affairs
- Financial Responsibilities
Medical Power of Attorney
In the case of medical power of attorney, the attorney in fact has power to act when the designator becomes incapacitated. This can include situations of terminal illness or serious injury.
These situations can be unfortunate to consider, but it is important to plan ahead and select the right person to make the right decisions for you when you are unable to.
Power of Attorney for School
In the case of individuals with children, the power of attorney for school grants the attorney in fact the power to make decisions regarding the children’s schooling, including:
- Extracurricular Activities
- Attending Parent-Teacher Conferences
The power of attorney can be revoked or changed at any time by the designator, regardless of reason. In addition, power of attorney can be limited with specific restrictions according to the designator.
For more information regarding power of attorney and a free probate lawyer consultation, contact us online or call today at (734) 397-4540.