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Power of Attorney
A “power of attorney” is a fancy name to refer to someone who has the power to act on your behalf. This person is known as your “attorney-in-fact” or “agent.”
There are different types of power of attorney; however, all of them allow you to appoint someone to make decisions on your behalf in the event that you can’t (or don’t want to) make them yourself. This can be helpful if you’re out of town and need someone to pick up your mail, or if you’re hospitalized and can’t make decisions about your care.
If you have a power of attorney, it’s important to make sure that your agent knows what you want them to do. You should also keep a copy of the power of attorney with your other important papers, such as your will or trust.
Do You Need Power of Attorney?
There are many reasons why you might need power of attorney. Some of the most common reasons are:
- You are hospitalized and you can’t make decisions about your care.
- You need help managing your finances.
- You want to make sure that your wishes are carried out if you can’t make them yourself.
FAQs About Power of Attorney
What Are the Different Types of Power of Attorney?
There are many different types of power of attorney, but all allow you to appoint someone to make decisions on your behalf in the event that you can’t make them yourself. Some types are:
– Durable Power of Attorney
– Medical Power of Attorney
– General Power of Attorney
– Limited (Special) Power of Attorney
– Springing Power of Attorney
What Are the Most Common Reasons to Get a Power of Attorney?
The most common reasons to get a power of attorney are to help manage your finances and to make sure your wishes are carried out if you can’t make them yourself.
What Should I Do if I Have a Power of Attorney?
If you have a power of attorney, it’s important to make sure your agent knows what you want them to do. Clear instructions are important here. You should also keep a copy of the power of attorney with your other important papers, such as your will or your trust, just in case you need it.
How Do I Get a Power of Attorney?
If you’re thinking about getting a power of attorney, it’s important to talk to an attorney about the options available to you. A qualified attorney such as James L. Arrasmith can assist you in making sure that you’re getting the right documents for your needs.
What Are the Risks?
There is always a risk that the person you appoint as your attorney-in-fact will not act in your best interests. It is equally important to make sure that your power of attorney is drafted by a professional so that you can rest easy with the peace of mind knowing that all of the legal requirements are met.
What if I Change My Mind After I Get a Power of Attorney?
You can always revoke or change a power of attorney if you change your mind. However, it’s important to contact a qualified attorney, such as James L. Arrasmith, about the process, so that you can make sure the revocation is valid.
What Is the Difference Between a Power of Attorney and Guardianship?
Guardianships are legal proceedings in which a court appoints someone to take care of a person who can no longer take care of themselves. This is commonly a minor child or an adult dependent. A power of attorney is a legal document that allows you to appoint someone to make decisions on your behalf.
If you have any questions, please don’t hesitate to contact us. We’re here to help.
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