A durable power of attorney might be the most crucial of your legal documents. It can affect how your finances, health, and future will be handled.
Let's look at how it works, as handled by a prescreened Los Angeles estate planning attorney.
How To Use A California Durable Power Of Attorney Document
The Durable Power of Attorney grants the writer of the instrument the authority to delegate specific actions to another person. Depending on what the Durable Power of Attorney specifies, those things could be anything. For example, a durable power of attorney might be very general or limited to only certain types of actions by the person granting it.
How Does A Power Of Attorney Work?
Generally speaking, a power of attorney can grant another person the authority to carry out any legal actions that the principal could carry out personally.
Some examples include:
- Giving someone else the authority to sell a car, house, or other properties in place of the Principal is possible with the aid of a power of attorney.
- The Principal may authorize another individual to sign a document on their behalf through a Power of Attorney.
- It can grant another person the ability to carry out financial transactions, sign legal papers, or make health care decisions that the Principal cannot carry out for one reason or another.
With a "General" Power of Attorney, the Principal can carry out practically any legal actions that the Attorney-in-Fact is authorized to. Although the rights of the Attorney-in-Fact are still listed in a General Power of Attorney that a Los Angeles estate planning lawyer creates, these powers are much more expansive than they would be in a "Limited" Power of Attorney.
People frequently create general powers of attorney to prepare for the possibility that they won't be able to manage their affairs on their own one day. So they appoint someone to act on their behalf by executing the General Power of Attorney.
How Does A Durable Power Of Attorney In Los Angeles Work?
General powers of attorney expire when the principal loses the capacity to act, such as when the principal develops Alzheimer's disease. In other words, a power of attorney is instrumental when someone is incapable of acting for themselves.
The law established "Durable Powers of Attorney," which continue to function even in the event of incapacitation. A durable power of attorney is only distinguished from a standard power of attorney by specific language stating that the authority endures the principal's incapacity.
However, if legal action is taken, even a Durable Power of Attorney may be revoked in certain situations. Today, most powers of attorney are long-lasting.
To make sure you're making the right decisions, consider consulting your estate planning attorney in Los Angeles before adding anything to the legal document.
What Are The Requirements For Signing A Durable Power Of Attorney In California?
When the Durable Power of Attorney is signed, the Principal must be of sound mind. A Durable Power of Attorney is still legal if and when the principal is rendered incapable, but at the time of execution, the principal must be aware of what they are signing.
This means that even if a Principal has dementia, Alzheimer's disease, or another form of diminished mental capacity at some point, as long as they are conscious and aware of what they are doing when they sign the Power of Attorney, it is legal even if they subsequently forget doing so.
The Principal must be mindful of the Power of Attorney's purpose, the person to whom they are granting it, and any property it may impact when it is signed.
Note that it's crucial for anything in a legal document to be worded right, so your wishes are explicit. This ensures that you get across your exact intentions. Again, your estate planning attorney in California will be able to help you draft a document that best reflects your goals.
Find A Los Angeles Estate Planning Lawyer Near You
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