Power of Attorney – What You Need To Know
There are several good reasons for the creation of a power of attorney document. A power of attorney allows someone to have the legal right to make decisions for you in the event that you cannot make them for yourself. This means that you don’t have to worry about receiving the proper care should something happen to you.
Roles Involved With Power of Attorney
The power of attorney usually consists of the principal, or the one for whom decisions are being made, and the attorney-in-fact, the individual named by the principal to have the legal authority to make the principal’s desired decisions.
The amount of power an attorney-in-fact has depends on how much the principal has granted them. The principal can give the attorney-in-fact authority to deal with only one issue or with several. An attorney-in-fact who is placed in charge of one issue will require a specific power of attorney document.
Decisions That An Attorney-In-Fact Can Be Authorized To Make
The attorney-in-fact can be granted the power to make all manner of decisions about the principal’s health care, including providing consent for the application or stoppage of medical treatment. They can also be given authorization to distribute gift amounts in monetary form and make financial decisions.
Who Can Be Named an Attorney-in-fact?
Any trusted individuals can be named the attorney-in-fact. It could be a friend, adult child, spouse or relative. The reason a trustworthy person should be chosen is because when they make a decision, they will be considered to be speaking for the principal.
Bob Kalenda wants to help you find all of the answers you need so that you can have peace of mind about your power of attorney document. Just call Kalenda Law Firm to claim your free consultation: 320.255.8840.