Granting power of attorney rights to a person is standard protocol when establishing estate planning practices. POA authorizes a person to make decisions regarding finances or healthcare when an individual is incapable of making those decisions on their own.

Before giving power of attorney rights to anyone it is important to carefully think about who will be charged with the responsibility. The person with POA authority often has to make choices that family members won\’t agree with.

Individuals designated as POA are required to be of legal age and capable of making vital decisions. It is imperative to choose a person that will fight for your rights and stand up for choices you want regarding medical care.

There are five different types of power of attorney designations. The person who executes the document is referred to as the \’Principal\’. The person charged with making decisions for the Principal is known as the \’Attorney-in-Fact\’.

The most frequently used designation is the durable power of attorney. This legal document authorizes the attorney-in-fact to represent the Principal in personal, business, and legal matters up until the time of death.

A non-durable power of attorney is used when there is only need to give a person permission to make decisions about a specific matter. People often use this kind of POA when they are having surgery or out of the country for extended periods of time. Power of attorney privileges expire when the Principal is able to make sound decisions.

Another kind of power of attorney designation used for specific matters is the limited power of attorney. This document is typically used when there is need to buy or sell real estate. The type of transaction authorized is described in the limited POA. Once the transaction is completed the powers are revoked.

Setting up a health care power of attorney is an essential element of estate planning. This document lets people state the type of medical treatments they will or will not agree to if they are critically injured or terminally ill.

It\’s important to give careful consideration to the chosen attorney-in-fact. This can be a difficult position to be in, especially if ideas conflict with beliefs of family members. The representative ought to be someone you can count on for standing up for your decisions regardless of what others think.

It can be hard to openly discuss if you want to be kept alive by life support or not, if the unthinkable were to happen. If you have strong opinions about medical care or are adamant about not being placed on life support, it is vital to establish a health care power of attorney.

One more kind of POA that can be utilized in situations involving injury or illness is the springing power of attorney. The designation is used to provide authorization to healthcare providers to share medical records with the attorney-in-fact.

When a springing POA is used the attorney-in-fact has to obtain authorization through the court for any decisions made on behalf of the Principal.

It\’s recommended to talk with a lawyer to ensure the correct power of attorney designation is used. Lawyers can offer guidance on selecting an attorney-in-fact and execute legally binding contracts for a nominal fee.

Author Bio: Learn more about the different types of power of attorney designations and their uses from California real estate investor and probate liquidator, Simon Volkov. He presents an extensive estate planning article library covering everything from probate to trusts at www.SimonVolkov.com.

Category: Legal
Keywords: power of attorney, attorney in fact, durable power of attorney, health care power of attorney