Power of Attorney
A “power of attorney” is a legal document executed by a person who desires to transfer decision making power to another person, either for a short time or indefinitely. There are many types of power of attorney. Some are very detailed and contain broad sweeping powers to do a variety of things. Others are limited, narrow in scope, and allow only those decisions that are carefully described in the power of attorneydocument to be made. A power of attorney may have a definite limit with a stated expiration period, such as giving a babysitter power of attorney to make emergency healthcare decisions for your children while you are away on vacation for two weeks.
Forms of power of attorney:
- General power of attorney that lasts indefinitely
- Springing power of attorney that only goes into effect upon the happening of a stated event (such as your sudden incapacity)
- Medical power of attorney is often used allow someone to make decisions concerning your health care and treatment
- Financial power of attorney is used to allow someone else to make important financial decisions, and could be as broad as allowing them to write checks, sell property, take out loans, and make purchases, or it could be narrow and limited to only the power to pay your regular monthly living and utility bills or expenses.
Some forms of power of attorney require very specific language and method of execution. Because there is not a “one size fits all” power of attorney, it is best to consult with an experienced estate planning attorney. Robinson Law PC can draft any document needed to accomplish your objectives and will be happy to explain all your options. Contact us today!