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What is a General Power of Attorney?
Still, many of those who are given the power of attorney are lawyers, often family lawyers who are trusted to deal with a wide range of things. When you are given the power of attorney, a person is authorizing you to act on their behalf in personal and business matters that have legal issues. They can sign your documents and decide for you while you are away or incapable of making decisions yourself. In case you suddenly get mentally incapacitated while any of the three kinds of power of attorney is in effect, the durability provision of the document would allow the agent to stay as your attorney-in-fact indefinitely. In the durable power of attorney, you are acknowledging the possibility that you could become mentally or totally incompetent because of any accident or illness. It only means that at the same time, another person can also make choices for you so you are sharing the right to decide with your agent. For example, if you are on a business trip abroad, you can designate someone to pay your bills or do bank transactions on your behalf. Your agent will only follow your orders, so long as you are mentally capable of making decisions for yourself. You have to decide one or more of the following tasks that your attorney-in-fact will carry out on your behalf from time to time: manage your properties preparing and filing income tax returns making decisions regarding health care do transactions at the bank and pay your bills handle your retirement and insurance benefits collect your social security benefits handle your legal claims You have two options when deciding how much authority you are going to allow to your agent. Since the power of attorney would provide the agent the control over banking, credit and other financial issues, it is important to be made carefully which is why legal assistance is importance. There are two kinds of power of attorney, the specific and the general. The specific power of attorney identifies particular transaction when the document would take effect. The parties that will receive the power-of-attorney documents Your power of attorney must be put in writing, signed by all parties involved (including the witnesses), and duly notarized. If the terms in the POA are related to taxes, it must be filed at the state government. If the terms are related to your real estate, your POA document must be filed at the office of the local county recorder.
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