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- What is a power of Attorney"?
In the general sense, a Power of Attorney" (hereinafter "POA") is a document whereby on person (called the principal") authorizes another individual or entity (called the "agent" or attorney-in-fact ") to act on behalf of the principal. The most common uses for "POA" are financial transactions and health care decision's. Most states have one set of laws governing financial POA's and second set of laws governing POA's for health care decisions . Therefore , it is the common and recommend practice not to mix the two purposes into one documents: i.e an individual desired to have a POA covering both financial and medical situations should prepare two separate POA's , one dealing with financial issues and the second dealing with medical issues.
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What is letter of attorney?
Do you mean POWER OF ATTORNEY?
The Power of A Power of Attorney?
So, what is a Power of Attorney?A power of attorney is a written document which grants another person, called an agent or attorney in fact, the power and authority to make certain decisions and act legally on behalf of another person, called the principal, who authorizes and grants the power. Notwithstanding the title of the document, the agent authorized to act does not have to be an attorney - that's the power of a power of attorney. Spouses usually name their husband or wife to be their agent. A relative, friend or anyone you trust can be named as your agent.The power of attorney is often granted for a specific time period, e.g., while the principal is out of the country or hospitalized; for a specific purpose, e.g., to run a business or purchase a home; or for a specific circumstance, e.g., to manage property because of the principal's illness. A power of attorney granted during the principal's life terminates at the moment of the principal's death- hereafter your will, or the law of intestacy, governs the handling of your estate. Keep in mind, a power of attorney document is not a substitute for a will.Types of Power of AttorneyA Power of Attorney is known by different names and can cover different areas and handle different functions.• Medical Power of AttorneyIt enables the agent to make decisions for medical care when the principal becomes incapacitated and is unable to make such decisions. It may also be called a durable power of attorney for health care.• The financial durable power of attorney should be witnessed by a notary public or attorney. If the durable power of attorney deals with the power to sell, lease, or otherwise dispose of real estate, you should have the power of attorney recorded in the Registry of Deeds, located in the county courthouse where the property is located.• The word "durable" means that your agent can continue to make decisions for you if you become incapacitated. The agent will still be obligated to act in your best interest, making decisions and using your money and property only for your benefit.By establishing a durable power of attorney, you are giving the agent some of the following powers:• To spend your money, cash checks, and withdraw money from your bank accounts• To sell your property• To pursue insurance claims and legal actionsIf you do not establish a durable power of attorney and you become mentally incapacitated, it may be necessary for a court to appoint a guardian or conservator for you.Power of a Power of AttorneyExecuting a power of attorney does not mean that you can no longer make decisions; it just means that another person can act for you also. For example, you may be hospitalized for a brief period of time and need someone to deposit your checks in the bank or pay your bills. As long as you are capable of making decisions, the other person must follow your directions. You are simply sharing your power with someone else.How Much Does it Cost?Legally, no payment is required. If payment is desired, it should be clearly stated in the power of attorney document. However, if an attorney-in-fact has to run a business or manage complicated financial affairs, then payment is appropriate.If you change your mindIf for any reason you become dissatisfied or are no longer comfortable having your chosen agent or agents handle your affairs, you have the right to revoke the agent's authority under the power of attorney at any time, as long as you are of sound mind. Be certain to distribute copies of that statement to your agent and to any institutions and agencies, such as banks and hospitals that had notice of your power of attorney. After you revoke the durable power of attorney, you can 1) execute a new durable power of attorney naming someone else as your agent to handle your affairs; or 2) handle your affairs on your own.[video=]
What do you think a.g. means?
AG can mean attorney general.
What does the LEGAL abbrevIation AIF mean?
Attorney In Fact. Very similar to, if not same as, Power of Attorney.
What does attorney at law mean what else can an attorney be at'?
In the United States, Attorney-at-law means a lawyer. The distinction is made because people can have "power of attorney" or "letter of attorney", which is referred to as Attorney-in-fact.
When does a durable power of attorney end?
A durable power of attorney terminates when:The principal dies;A legal guardianship (or conservatorship) over the principal is allowed by the court;The principal or a judge revokes the power of attorney
What does AG mean in the book Holes?
AG in the book Holes is attorney general that came to camp Green Lake to take over and save Hector(Zero) ad Stanley. AG means attorney general and a lady name Ms Merengo Stanly's layer she came to take Stanley out of camp and Stanley said he wants zero to come with him AG in The Novle Holes Mean Attorney Generral He was the tall man
Power of attorney mean a lawyer?
Any person having the capacity to contract is qualified to act as an attorney-in-fact.
Can a power of attorney be written by a Title company?
I actually have 2 questions 1. Can a power of attorney be written up by a title company when a peice of real estate is sold. And does that mean that the power of attorney can be used for all other aspects of an estate. 2. Can this power of attorney be signed without my mother's approval?
What does a limited power of Attorney mean?
it means that people only had certain power over the government
What does the secretary of justice do?
There is no such thing as Secretary of Attorney. Do you perhaps mean Attorney General? Or do you mean what does an attorney's secretary do?
Does power of attorney give you the right to exclude someone out of money and properties?
The answer depends on the nature of the power of attorney and what you mean by 'exclude'. Generally, a Durable Power of Attorney gives the attorney-in-fact the power to sign legal documents and carry on all the business of the principal even if the principal becomes incapacitated and as long as the principal is living. The POA expires upon the death of the principal. The document that created the POA should recite the powers that are granted and many powers are provided by state law. If during the course of performing their duties and exercising their power the AIF exceeds their authority, they may be liable for any damages suffered by the principal or others. If you think the AIF is acting in a way that exceeds their power you should consult with an attorney who can review the situation and advise you of your options.
