In Douglas County, Colorado, 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.
If you have a strong preference with respect to end-of-life care, but worry that you might be unable to express your wishes when the time comes, you may want to give a family member the legal authority to make such choices for you, if necessary. Of course, the power you grant them should be precisely limited to medical decisions, if that's all you want them to be able to decide. It should further clearly state that this power will not really vest until and unless you actually become incapacitated. For reasons that should be obvious, you should only give this power to a person you trust.
Typically, you can find forms in Douglas County, Colorado 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 Douglas County, Colorado
In Douglas County, Colorado, power of attorney can take three main forms. They are as follows:
1. Limited power of attorney - this is the most limited form of power of attorney. It lets the attorney-in-fact exercise his or her power once, and in only one instance (laid out by the principal, of course). This is usually used in business deals, if it is not convenient for the actual party to a deal to be physically present for the signing of some documents, it can be done through an attorney-in-fact. You simply need to give them the permission to sign the paperwork on your behalf, and it will be just as binding as if you had signed the documents yourself.
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 - springing power of attorney is much like durable power of attorney, with one key difference: the power only takes effect upon the happening of a particular event. The principal is free to set whatever conditions they like in this arrangement, no matter how outlandish. Of course, in most cases, the setup is much more practical. A frequent arrangement permits a close friend or family member to make certain decisions for someone else, but only if that person becomes unable to make them himself.
Can a Douglas County, Colorado Lawyer Help?
Setting up a power of attorney arrangement in Douglas County, Colorado can be easy, but it can also be very difficult. It just varies on what you're trying to do. However, if you are at all unsure about how to proceed, it would probably be a good idea to have an attorney draft the agreement for you.