A financial power of attorney gives someone the authority to conduct business for you.
Durable power of attorney ONLY cover financial decision making. A medical power of attorney covers medical decision-making.
That type of power of attorney is also called a Child Medical Care Authorization Form.
Generally, a financial power of attorney expires upon the death of the principal. See related question.
No, durable power of attorney, although meant for financial decision-making, is restricted against amending wills.
No, a medical power of attorney ONLY applies to health care decision-making.
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.
There is no requirement for them to disclose information. As long as the power of attorney exists, the grantor is still living and they are not heirs.
Giving someone financial power of attorney is an effective legal way to hand over one's financial management to someone else, in case one becomes unable to take responsibility for one's own financial decisions.
No, a power of attorney does not give the authority to change a person's will. The power of attorney only allows the designated individual to make financial and legal decisions on behalf of the person who granted the power of attorney. Changing a will requires a separate legal process.
Whether you create a will or a revocable living trust, it is important to have a durable power of attorney. A durable power of attorney is a document that designates a person who can sign on your behalf and handle your financial matters in the event you are incapacitated.
Unless you were specifically granted a "General Power Of Attorney" your responsibility and powers extend only as far as to what was granted in the POA you possess. You should consult an attorney to have them read it for the specifics.
California has made available statutory power of attorney forms for financial and medical matters. You can purchase these forms at stores that sell legal forms.