A power of attorney will only last on the stated date and if there is no date specified, it will cease to be effective when the principal becomes gravely ill, incapacitated or mentally incompetent. The Health Care power of attorney is one that allows a grantee of the document to decide on your health care service should the principal be deemed incapable of making a decision. To begin with, the power of attorney is a legally effective document that states your agreement to give somebody else (a relative, a friend, or an employee) an authority to make special decisions or to do several things on your behalf. It is recognized in common law and civil law systems. It could be a legal or a business matter. But almost all of the laws agree that no agent should be below 18 or 21 years old. Time. When choosing the best agent to represent you, then it may be important to consider the amount of time they can spend on managing financial and legal matters. Location. Choosing an agent who does not have to be far from the principal and the property is a better choice. The agent must not be personally involved in any transaction where he or she is representing your interests. For example, he/she must not be a stock investor who would gain more from buying your shares in a company in an inappropriate manner or pricing. The agent should be firm in keeping accurate all records pertaining to all transactions he/she gets into on your behalf. Because of the sensitive nature of this, power of attorneys are often only given to people that the principal ( the person giving the power of attorney to the agent) absolutely trusts. This can be a son or daughter, a parent or other close relations. Do not be fooled with the name. Anybody can be given the power of attorney, even people who are not lawyers, although most of those who are given such responsibilities are family lawyers of rich people or corporate lawyers of big corporations, whose job entails them to represent the CEOs or the big bosses, which are often required to be in three places at the same time, which is of course, not humanly possible. Preparing for Your Future? Consider a Health Care or Medical Power of Attorney If you have already reached the prime of your life, it is a wise move to create a power of attorney that designates a trusted person who will make choices regarding your health care and finances on your behalf when you are no longer mentally capable of doing so.
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