The following constitutes general principles only and not legal advice. Every situation is different. You should consult a lawyer, and you should not obtain legal advice from a website.
Power of Attorney
Appointing a person to be your Attorney under a Power of Attorney allows that person to take care of any financial responsibilities or legal matters that you have, in the event that you become incapacitated, experience illness or an accident, or in the event that you are not available due to a job situation, travel, etc. An Attorney’s responsibilities can include anything from day-to-day banking, renewing mortgages, managing the sale of a business, etc. You have the ability to restrict the powers of your Attorney as you prefer or to give your Attorney powers broad enough to cover all your financial affairs whether you are capable or become incapable.
An enduring power of attorney is a power of attorney that allows another party to act on your behalf for financial or legal affairs while you are still alive. A common misconception is that power of attorney documents are only used when an individual become incapacitated or after death. This is not true. In fact, many people consider this to be the document of choice when having personal planning documents prepared. Have more questions in regards to power of attorney options? Contact the experts at Smith Alliance to learn about all your options.
A Power of Attorney is a document in which you appoint someone to make financial and legal decisions on your behalf. It is valid only while you are living and the power ends upon your death. A Power of Attorney does not include the power to make health and/or personal care decisions on someone’s behalf.
Disclaimer: Please note that this website provides general legal information only and nothing within it should be considered to be legal advice. You should consult a lawyer to obtain legal advice about your particular legal matter. No solicitor/client relationship is created by using this site.