In California, notarization in the documents is important but this may not be the case in some states. This is why it is important to have knowledge on legal matters and employ legal assistance when making the document. A possible problem with the durable power of attorney is that the principal may not want the attorney-in-fact to take specific liberties. If you think that person really understands your feelings, you could be sure he/she would follow and stick to your personal wishes if ever you get incapacitated. Would the person be willing to spend time to handle your affairs? We are all busy. Perhaps, the person you are appointing as your attorney-in-fact could be busier than you are. 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. Because it can have legal consequences, the transfer of power or the authorizing is written as a legal contract, which is shown to people before the attorney-in-fact can proceed with his dealings on behalf of the client or the principal. Often, when the attorney-in-fact is being paid, a separate contract is drafted for the payment and is not shown to other people. When they fall ill, become physically or mentally incapacitated, some power of attorney agreements are honored provided that they have the provision that the contract will still be valid when these things happen. Otherwise, they will also become void. It is also assumed that the agent will be completely honest and truthful with his business dealings in representing the principal. Second, that person should have the ability to prudently and effectively manage finances. If not, he/she should be humble and wise enough to seek assistance from experts and professionals to make sure your finances are well managed and handled. To be able to handle and manage your finances better, your agent must always decide to keep his/her own money separate from yours.
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