In Foley, Alabama, 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.
In Foley, Alabama, you can find pre-printed power-of-attorney forms in many office supply stores. If the agreement you want to create isn't very complex, these could be a viable and very affordable option. Of course, it never hurts to have a lawyer help.
Types of Power of Attorney Arrangements in Foley, Alabama
There are 3 power-of-attorney arrangements that can be set up in Foley, Alabama. Which one is best for you will largely depend on your goals, and your individual situation. They are:
1. Limited power of attorney - this is probably the most limited type of power of attorney. It lets someone act on your behalf in a single instance. It is used most frequently in large sales transactions involving a written contract. If the closing of the deal is set to take place far away from where one of the parties is located, they can give limited power of attorney to someone who is closer. All you have to do is give that person the authority to act on your behalf in this one transaction. This authority automatically expires once the deal is finished.
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 - under this arrangement, the attorney-in-fact does not get power of attorney until the happening of some stated event. The specified event is typically the incapacity or disability of the principal, though it can be virtually any event you wish. You should be aware, however, that it is not always clear when the principal has become sufficiently "disabled" for the power of attorney to take effect. This question sometimes has to be determined by a court, which can be costly and time-consuming.
Can a Foley, Alabama Lawyer Help?
While setting up power of attorney in Foley, Alabama 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.