In Kenai, Alaska, power of attorney is an arrangement in which one person (the principal) gives another (the attorney-in-fact) the ability to act on the principal's behalf in specific situations, and under specific conditions. Power of attorney might be granted for any number of reasons, but it is most frequently set up to allow the attorney-in-fact to make financial and medical decisions on the principal's behalf in the event that the principal becomes incapacitated.
The principal in a power-of-attorney arrangement is the one who determines the scope of the power that the attorney will be able to wield, and the circumstances under which they can wield it. Generally, you can grant the attorney-in-fact as much or as little decision-making power as you'd like. In every case, however, you should only enter a power-of-attorney arrangement with somebody you trust. The nature of the power you should grant depends heavily on the context, and what your wishes are.
For example, if you have very specific desires for your end-of-life care, but are worried that you won't be able to express your wishes when the time comes, you can grant someone power of attorney in advance, so they'll be able to ensure that your wishes are carried out, if necessary. You should draft an agreement giving the attorney-in-fact power of attorney only in the event that you truly become incapacitated. Presumably, if you are able to make and express your own medical decisions, you'll want to do it yourself.
Usually, you can find forms in Kenai, Alaska that let you easily draft a power of attorney document. However, if a considerable amount of money is at stake, or you wish to grant very specific and limited powers, you should probably consult with a lawyer beforehand.
Types of Power of Attorney Arrangements in Kenai, Alaska
In Kenai, Alaska, power of attorney can take three general forms. They are as follows:
1. Limited power of attorney - this lets the attorney-in-fact exercise limited authority in a single transaction. It is useful, for example, if someone is buying property in another state, and the deal is nearly done, but a few documents need to be signed. The buyer could give a resident of that state power of attorney, authorizing him or her to complete the transaction on the buyer's behalf. Conveniently, the power automatically terminates when the transaction is complete.
2. Durable power of attorney - unlike limited power of attorney, discussed above, this does not automatically expire, though the principal can end it at any time. It is typically not limited to a single transaction, either. Rather, it covers a broader subject matter, though it still has limits. For example, you could give someone durable power of attorney to make medical decisions for you, but they would only be permitted to act in that context.
3. Springing power of attorney - this is a form of power of attorney which doesn't truly take effect until the occurrence of some stated event. This event can be anything, but it is typically the principal becoming disabled. You should be aware, though, that it is not always clear what "disabled" means in such an agreement, which can result in disagreements, resulting in litigation.
Can a Kenai, Alaska Lawyer Help?
While setting up power of attorney in Kenai, Alaska can be simple, there are some cases in which it will inevitably be complicated. In such cases, the process will be much easier if you have a knowledgeable attorney to help you along the way.