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Who is the agent in a power of attorney?
You can get a power of attorney form online or at your local officesupply store. ========== A form DOES NOT give you power of attorney - the form has to filledin by all partie…s and must be signed and witnessed. A power of attorney is a SERIOUS responsibility.
A principal who has legal capacity must execute a Power of Attorney voluntarily naming an attorney-in-fact. They must understand what they are doing, why they are doing it, un…derstand the effects that executing the POA will have and they must not be unduly influenced or pressured by someone else to do it. The principal should discuss it with an attorney who can review their situation, listen to their needs, explain their options and explain the consequences. Most states grant certain statutory powers to an attorney in fact under a POA and those may include power to make medical decisions. A POA may also be specifically constructed to grant only certain powers. Durable POA is effective even after the principal has become incapacitated due to age or illness. A general POA expires when the principal becomes incapacitated. An attorney-in-fact must be a trustworthy person. They will have complete control over the principal's assets. A POA is a powerful instrument that should always be drafted by an attorney and to fit the needs of the principal. To create a power of attorney a person must: . Be at least 18 years old; . Intend to give the power to the person designated in the document; and . Be mentally competent, which means able to understands the document; . Understand which powers are being granted; and . Understand which property is affected by the power granted. Unless you are absolutely sure about what you're doing and fully informed about the consequences, you should consult an attorney. A POA grants sweeping powers to your attorney-in-fact. They will have complete access to and control over your assets and will need to be capable of keeping good records. They should keep an account of all the money coming in and all the money going out by their hand. They must be trustworthy, organized, intelligent, reliable and act in a professional manner where your finances and property are concerned. A medical power of attorney will enable your agent to make medical decisions on your behalf if you should become unable to make those decisions for yourself.
they are the mediator between the accused and the judge in the plea bargaining process since they prepare defendants for the likely outcome of conviction.
A durable power of attorney is not affected by the subsequent disability or incapacity of the principal.
In most states all that is necessary is that it has to be signed in the presence of dis-interested witnesses or a Notary Public.
This would be the act of having 2 people act in the place for someone else. Although not recommended because if a final decision needs to be met and the 2 cannot agree, it mak…es for a legal situation.
A Power of Attorney is a legal instrument that allows one person (the agent) to conduct the affairs of another (the principal). It is used in situations where the principal is… not present or is incapacitated.
A power of attorney is a written instrument. You can purchase a fill in the blank form or have an attorney prepare a power of attorney for you. Power of Attorney allows you t…o choose someone else to act in your presence for any financial or medical matter legal under the laws of your State. There are four main power of attorney forms: durable, general, limited, and medical. All of which preform a specific duty.
An agent can resign in writing and deliver the resignation to the principal. A copy should be given to any entity that was given a copy of the original POA. If the original wa…s recorded in the land records then the resignation should also be recorded. The resignation should contain all the information a revocation would require.
You can find out what powers can be given to an attorney-in-fact by looking it up online in your state's statutes. Generally, a POA grants sweeping rights for the attorney in… fact to act on behalf of the principal in all matters except making changes to a will. A POA creates a position of trust where the principal grants power to an agent to sign on her behalf when she is unable or unavailable, or simply for purposes of convenience. A General Power of Attorney gives the attorney-in-fact broad powers and access to all the assets of the principal and therefore, it can be easily abused by an unethical person. A POA can be appropriately tailored to limit the powers of the AIF and that can help to mitigate risk. It is essential for the principal to choose someone who is trustworthy, reliable, organized and good at record-keeping. An attorney-in-fact can find themselves in serious trouble when they use the principal's funds for their own benefit even with the principal's permission. Consider the following. Many people who grant a POA are elderly and they do not have a good grasp on their financial situation especially since they have appointed someone else to manage their finances. They are grateful for the help and want to reward the AIF by sharing their limited resources. Even if the principal verbally authorized the personal use of funds by the attorney-in-fact the AIF would be in a precarious situation if their personal use of the principal's money were to be challenged in court later. The AIF should never use the principal's funds for their own use. An AIF is a fiduciary and is subject to state laws that govern fiduciaries. One of the boilerplate rules for fiduciaries is that they not convert the principal's assets to their own use. Another rule is that they keep good records so that an annual accounting can be produced that shows the principal's funds coming in and going out. Those figures should closely match. Any fee charged by the AIF should be represented in that accounting.
legal document set up to enable someone to act in financial and legal matters for someone else. Can put restrictions on it so someone cant for example sell your house but coul…d go to the bank for you.
You can use a health care power of attorney to grant somebody the authority to make health care decisions for you.
An attorney-in-fact under a Power of Attorney can handle your finances for you and even make medical decisions if that power is included in the document that created the POA.
The powers are the subjects listed in the power of attorney that specify how the attorney-in-fact can act for the principal.
A principal can certainly cancel the general power of attorney without giving notice to the agent, but if notice is not given the agent might continue to act upon the pr…incipal's behalf. If the agent does continues to act without being told he shouldn't his actions for the Principal will still be effective against the Principal and the agent will not be held to have done anything wrong. The problem is that the agent will be acting with "apparent authority", which will be just as binding on the Principal as if the POA had never been revoked.
"Power of attorney" means a writing that grants authority to an agent to act in the place of the principal. Many states provide statutory power of attorney forms for financial… and medical matters that are easy to understand and you only need to fill in the blanks and sign it. You can find these statutory power of attorney forms at businesses that sell legal forms.
If you are creating one for someone else you do have to be a licensed attorney. If you can't afford an attorney, you may find that your state has made available a statutory po…wer of attorney form that you can purchase at a business that sells legal forms or possibly on your state government website for no charge. You can also find power of attorney form handbooks at your local bookstore or library that contain various types of poa forms authored by licensed attorneys.