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Difference Between a Medical Power of Attorney and a Living Will

 

The attorney-in-fact would only perform duties specified in the document until the principal revokes the document. Aside from revoking, both general and specific power of attorney is discontinued upon the principal s incapacity and death. Non-durable power of attorney The clear characteristic of the non-durable power of attorney is that it is for short-term transactions only. In general, it is a legal requirement that you be in a competent and normal state of mind when getting a power or attorney or appointing a person to be your attorney-in-fact. However, it could be very hard to prove that you are not well when you do so. It would be safe to get that document even if you are in the pink of health or even if you do not foresee any event that would make you unable to handle your affairs. Amount of control How much authority are you willing to grant to your agent in terms of decision-making and performing your tasks on your behalf? That is a crucial decision you need to address when selecting the right attorney-in-fact. You may opt for several limited powers of attorney if you are not comfortable with the idea of giving your agent full control over your assets and personal matters. A judge will choose a person who will serve as your legal representative, and this agent may be someone who you do not fully trust. If you want to have a say on who will take care of your affairs when you become incapable of doing so, then it makes perfect sense to create a power-of-attorney document. How an Agent in Your Power of Attorney should Manage Your Money The power of attorney is most welcomed by many people because of its function to appoint a person to make decisions on your behalf. In case you get sick or you go out of the country and there would be important errands or transactions to be done, you could be sure someone would appropriately takeover to make sure everything is in place. To avoid this problem, the power of attorney should be specific enough. Identify particular obligations or transactions that the agent or attorney-in-fact could handle. Also, to avoid problems with abuse in the document, the American Bar Association suggests that list any powers that the principal don t want the agent to have, like altering the principal s will or giving away the principal s property. 

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