In Monrovia, California, power of attorney is an arrangement in which one person (the principal) gives another (the attorney-in-fact) the capacity to act on the principal's behalf in particular situations, and under particular conditions. Power of attorney might be authorized for any number of reasons, but it is most commonly 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.
If you are giving someone power of attorney, it's up to you to decide clearly what kind of decisions they will be able to make, and when they'll be able to make them. In any case, however, it's very important that you completely trust the person to whom you're granting this authority, since any power of attorney, even if it's very limited in scope, can be abused. Obviously, whatever type and amount of power you wish to give will depend on your intentions, as well as many external factors.
One very frequent reason for granting power of attorney is that the grantor believes that they might become incapacitated, due to age or illness, in the fairly near future, and they want to make sure that their preferences relating to care at the end of their life are followed. Of course, if nobody knows what that person's preferences are, and the patient is unable to express them, family members and doctors will simply have to guess. Obviously, there's a good chance that they could get it wrong. Thus, you should make your desires well-known to those who will be in a position to implement it, and grant, in writing, a person you trust (such as a spouse, life partner, sibling, or adult child) the authority to carry out your wishes, if necessary.
Typically, you can find forms in Monrovia, California that let you quickly draft a power of attorney document. However, if a massive amount of money is at stake, or you wish to grant very particular and limited powers, you should probably consult with a lawyer beforehand.
Types of Power of Attorney Arrangements in Monrovia, California
Power of attorney in Monrovia, California takes 3 main forms. Which one is appropriate for you depends on your particular case. They are:
1. Limited power of attorney - this lets the attorney-in-fact exercise limited authority in a single transaction. It is useful, for instance, if someone is buying property in another state, and the deal is nearly fulfilled, but a few documents need to be signed. The buyer could give a resident of that state power of attorney, permitting 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 - this gives the attorney in fact the power to make decisions on a general area of the principal's affairs (for instance, the authority to access the principal's assets to pay the principal's debts, or the power to make healthcare decisions on behalf of the principal). Unlike limited power of attorney, durable power of attorney does not expire unless the principal revokes it. This is useful, because it authorizes the attorney-in-fact to make important decisions for the principal if the principal becomes incapacitated.
3. Springing power of attorney - this is a lot like durable power of attorney, but it does not normally take effect immediately. Instead, the power vests on the occurrence of particular condition(s) laid out by the principal. The principal could make the condition anything he or she wants, permitting power of attorney to vest only if, say, a person flies to Saturn. Of course, these arrangements are normally not so outlandish. Normally the event that must take place is the principal becoming incapacitated. This permits the principal to make his or her own decisions while they're able, but also ensures that someone they trust will be able to carry out their wishes in the event that they become too sick or weak to express them.
Can a Monrovia, California Lawyer Help?
While setting up power of attorney in Monrovia, California can be simple, there are some instances in which it will inevitably be convoluted. In such cases, the process will be much easier if you have a seasoned attorney to help you along the way.