Understanding The Roles And Responsibilities of A Power Of Attorney

The future is unpredictable. You never know what could happen to you in the next few days or even in the next few minutes. Given the uncertainty human life holds, it is good to have a sense of control over your and your family’s future. One way to do that is by drafting an estate plan and appointing a power of attorney or POA.

A POA is someone you trust with your finances or health care. When it comes to ensuring that everything is done right in your absence or incapacity, this person will be there to take charge. They should also have your best interests at heart. Many people choose their family members as a POA, but it could also be a friend or an unrelated person. Get legal help to know more.

What is a Power of Attorney (POA)?

A Power of Attorney gives one person the right to make decisions on behalf of the other person. The person who receives the right or authority is referred to as the agent or attorney-in-fact, while the person giving the authority is known as the principal. The agent has the power to make decisions about the principal’s finances, health care, and property.

What are the different types of Power of Attorney?

There are six different types of Power of Attorney in Mechanicsburg, Pennsylvania. They are as follows:

1. Durable Power of Attorney: This is the most common type of POA. This gives a person the right to make decisions in case of incapacity. It is different from a non-durable POA in the fact that it is valid even after you become incapacitated. It ceases when you die.

2. Non-durable Power of Attorney: It is very limited and is only valid until you can make your own decisions.

3. Medical Power of Attorney: This person makes decisions regarding your medical issues. They can approve, discontinue, or reject treatments.

4. General Power of Attorney: This is the most flexible type of POA, where the agent comes to make decisions if the principal has not already appointed someone else to do so.

5. Limited Power of Attorney: This person only does very specific jobs on your behalf. It is important to draft their duties carefully to ensure that they only have the power you want them to have.

6. Springing Power of Attorney: They are not effective immediately but “spring” into action the moment you become incompetent or incapacitated.

The people you choose to make decisions on your behalf should be the most trustworthy and honest people you know. Since you will be handing them a lot of power, you want to ensure that they do not misuse it.

Making such decisions while handling the legal complexities can be overwhelming. Hire an attorney today to take some burden off your shoulders.