Power of Attorney is a lawful document which grants you the legal right to appoint another individual to act on your behalf and manage your financial affairs, property or health related affairs. A Power of Attorney can commence with immediate effect or in the event whereby you may be incapacitated in the future and is no longer in a state of mind to make your own legal decisions.

A Power of Attorney allows you to appoint a parent, spouse or any other competent individual to act on your behalf. The major reason for any Power of Attorney is the appointment of someone who can make decision, execute important tasks or sign documents on your behalf when you are no longer in a position to do so yourself.

The person who grants the Power of Attorney, is the principle, whereas the person receiving the authority to act on behalf of another individual, is the agent or attorney-in-fact. Fundamentally there are various types of Power of Attorney.

“Durable” Power of Attorney remains binding even in the event of your being incapacitated. Should you neglect to specify durable Power of Attorney, such Power of Attorney will cease when you are incapacitated. “General” Power of Attorney provides the individual you appoint with the authority to manage your financials affairs and assets while you are still alive. “Limited” Power of Attorney allows the agent to act on your behalf on specific matters only when you are unable to do so. As soon as the principle passes away, the Power of Attorney in all cases will cease.

Related Posts
Know Civil lawsuits to avoid them
If you are taking a proceeding or a case of some wrong act, it might be known either as "civil" or may be "criminal" suit. Scrutinize these 2 forms of ...
READ MORE
Expenses in a DUI case
DUI case or Intoxicated driving is the act of working or generating an automobile while under the impact of liquor or medication to the level that psychological and engine skills ...
READ MORE
Property tax law
Property tax is a tax on real estate levied by any level of jurisdiction from National government right down to municipal or county level. The amount charged is usually between ...
READ MORE
Car Accidents and Law
Car injuries signify the majority of accidental injuries statements in the United States. According to the National Road Traffic Safety Management, a car incident occurs in the U.S. every ten seconds ...
READ MORE
How to deal with your business debts
Around 90 percent of businesses fail before they even reach ten years. And in this challenging economy, it would be normal if your business would dwindle down to failure. This ...
READ MORE
What is a mortgage?
A mortgage is an accepted legal recourse wherein a person makes his personal (movable) or real (immovable) property as a security to a loan so that, if the person who ...
READ MORE
What are the Dos and Don’ts when you are not able to pay rent on time
You don’t have to worry about getting evicted if you can’t pay rent on time. You won’t, not right away at least. It’s inevitable to run short on funds. It’s ...
READ MORE
How a real estate attorney can help you during your home purchase
There are different kinds of real estate transactions such as commercial leases, residential rentals, single-family home, and investment property transactions. To make sure that your real estate transactions run smoothly, ...
READ MORE
Pulled Over By police officer
When a police officer pulls you over, there are certain steps you must take to make it easier for you to challenge the ticket in court. When you hear the siren ...
READ MORE
Pay taxes on time
When April 15 is round the corner, it becomes a really stressful time for the tax payers. Paying of tax is imperative for one and all. Hence there are also ...
READ MORE
Know Civil lawsuits to avoid them
Expenses in a DUI case
Property tax law
Car Accidents and Law
How to deal with your business debts
What is a mortgage?
Not able to pay rent on time? Dos
How a real estate attorney can help you
Pulled Over By police officer
Pay taxes on time