Have you thought out the power of attorney situation in your life? A Power of attorney is a document that allows someone else to act as your legal agent. Thus, a power of attorney can be used to allow a friend to sell your car, to let your spouse ship your household goods or to authorize a relative to take your child-to the hospital. It can also be used to sell or buy property. It can create valid and legal debts in your name or it can authorize a person to pay off your debts.
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Are you assigning a power of attorney?
REMEMBER: A power of attorney should never be made indefinite or permanent. The best course is to set a date for the power of attorney to expire, and this can be written into the power of attorney. That way, the power of attorney will not be valid after the expiration date that you set unless, of course, you renew it by preparing a new power of attorney.
While power of attorney will be accepted as valid for most purposes, in many states there are some items that cannot be accomplished by using a power of attorney because these actions are so personal in nature that they cannot be delegated to another. Thus, for example, a marriage ceremony or the execution of a will cannot be done by power of attorney. In addition, there are times when a certain form of power of attorney is required and none other will be accepted - an example is the special form of power of attorney used by the Internal Revenue Service when a person allows a friend or relative to cash an IRS refund check.
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Who Needs a Durable Power of Attorney? Hint: You Do
If you or your partner were seriously ill or injured; who would make medical decisions for you? In most states; your legal next of kin--most likely parents or siblings--would have that authority; unless you specifically state otherwise. One way is to complete a Durable Power of Attorney for Health Care Decisions
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attorney; power of -- Britannica Concise Encyclopedia Online Article
attorney; power of <body>Authorization to act as agent or attorney for another. Concise Encyclopedia Article. Page 1 of 1. power of attorney law countries (see civil law; common law). Durable power of attorney becomes effective when the principal becomes unable
Elder Planning: Substitute Decision Making
Article Information. Contents. Power of Attorney. Durable Power of Attorney A Durable Power of Attorney might possibly be the most important legal document that you ever
Power Of Attorney Guidance From Irs - Brief Article
At the annual IRS meeting with CalCPA's Committee on Taxation; IRS representatives offered suggested verbiage for Form 2848; Power of Attorney and Declaration ...
