What Does Power of Attorney Mean?
The power of attorney refers to the authority given to one person to act on behalf of someone in issues on different personal matters such as property. This authority is granted through a written document that explicitly states rights and privileges of the power of attorney, and also the limits of those rights and privileges.
How Many Different Types POA (Power of Attorney) are there?
There are different types of power of attorneys or POA's, arise due to different circumstances that effect the person who grants the power of attorney. One such POA is called the springing POA, this arises when the grantor is unable to verbally or physically act for themselves, this arise from an accident or a degenerating mental condition. Healthcare POA are used when the grantor in question is suffering from a serious condition and gives the power of attorney the authority to make medical decisions only but nothing more.
The two predominant forms of POA are durable and non-durable power of attorneys. A Non-durable POA's, means that the power of attorney has the authority to carry out decisions on short-term transactions that the grantor could not carry out. Non-durable POA exists only for a short duration of time, and can even end when the grantor is no longer in a position to continue empowering the POA. It is possible to establish a durable POA, where the power of attorney has authority even when the grantor is sick, it will end when said grantor passes away.
Services of Power of Attorney
Should you ever wish to appoint a power of attorney of your own, then Axess Law, is more than happy to guide you on the process. The rights to a power of attorney can only be signed if the grantor is in a stable state of mind and understands the implications of what he or she is signing. The document must be written by the grantor (and cannot be in any other form). Furthermore, the power of attorney has to be above the age of 18. It is highly advisable to appoint more than one power of attorney, so that wide-ranging authority is not in the whims of a single person.
If you wish to seek further guidance, do not hesitate to contact Axess Law, to make an appointment. Axess Law is a renowned law firm that believes the law should help those who abide by its rules. We open from Monday to Friday from 9 am to 6 pm but we can arrange to have appointments on the weekends or evenings, if you prefer. Axess Law is the ideal firm to guide you in creating your power of attorney.