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
The Consequences of Getting a Ticket
It is the penalties and the fines that irk people so much every time they get pulled over for traffic ticket. The citation can greatly affect the driving privileges and ...
READ MORE
Open container violation
While driving your car, you are not allowed to have any alcohol containers, such as bottles and cans, that have been opened, having broken seal, nor had its content partially ...
READ MORE
Drunk Driving
Drunk Driving is the act where in the driver drives the vehicle under the influence of alcohol or drugs. This is to such an extent that the person does not ...
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
Tenant Rights and responsibilities
Have you recently moved out and you’ve decided to move again into a rented residential unit? Did you know that the tenant rights made by the Federal and State bodies ...
READ MORE
Questions which should be asked to a real estate attorney
Afterall, you are going to invest a good nest egg on it and real estate transactions are undoubtedly important. There are a plenty of things to consider when buying or ...
READ MORE
Things a tenant should know about rental agreement
Rents are usually due on the first day of the month. But generally, rent payment depends on the agreement you have made with the landlord. It may be specified in ...
READ MORE
An overview: rent withholding
If you are not satisfied with the conditions of the apartment or house you are renting, you can stop paying rent until your landlord does the appropriate repairs. This act ...
READ MORE
Got notice of eviction even before due date of rent agreement – WHAT TO DO
Your landlord cannot end your tenancy without a good cause and especially without the blessing of the court. If you have received a notice of termination even before the due ...
READ MORE
Landlord duties
If you’re a new landlord you have to know that being one is no simple matter. Aside from the identity of you tenants, you also have to be aware of ...
READ MORE
The consequences of getting traffic ticket
Open container violation
Drunk Driving
How to deal with your business debts
Tenant Rights and responsibilities
Questions which should be asked to a real
Things a tenant should know about rental agreement
An overview: rent withholding
Notice of eviction before due date of rent
Landlord duties