In some cases, a co-agent is assigned by the principal to ensure that not all responsibilities would burden one agent. To exercise more control on the transactions, the principal is also recommended to ask regular reports from the attorney-in-fact/ agent. Being aware of such issues about the power of attorney could help principals and those who are thinking of getting such document, be cautious. So it is a wise move to have someone take care of your properties while you are away. What will happen if you don t have an attorney-in-fact and you are incapable of acting or deciding for your affairs? The court will then use its discretion in deciding who will be in charge of making decisions regarding your finances, properties, or health care. The most common is of course the general power of attorney which authorizes the agent to act on your behalf and to represent you in dealings and other matters. It covers all kinds of transactions. The validity of the agreement or the contract will of course be stated on the document. The special power of attorney on the other hand only gives an agent the authority to act specific matters. It could be an event of disability, illness or travel abroad. it would only be valid, if there are doctor or doctors which identified that the principal is indeed incapacitated. However, it may pose some problems since mentally incapacitated is defined subjectively and difficult to determine. So it is not recommended that durable power of attorney would be springing. Age It is a basic factor in determining whether someone is fit to become your attorney-in-fact. You must choose a person who is a lot younger than you are since he or she can carry out the responsibilities for a longer time compared to the older ones. Also, younger people are relatively healthier than their older counterparts, so you can be sure that they can handle your assets without much hassle. It should state yourself as the principal and identify the agent you are appointing to take authority on your affairs if you become unable to do so. Of course, it is a requirement that your appointed agent agree to take the authority you are giving. The document should be duly witnessed by a lawyer or a notary public.
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