In Norwalk, Connecticut, 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.
Any power-of-attorney arrangement creates the possibility that the attorney-in-fact will abuse the power he or she has been authorized, and it's simply not feasible to totally eliminate this possibility. It can be minimized, however, by giving the attorney the bare minimum amount of power needed to carry out your wishes, and making your wishes known in writing (with copies held by at least one other person) well in advance. When authorizing power of attorney, you can typically grant as much authority as you want, so you need to be very careful, and only give this legal authority to somebody you know and trust. Also, you should consider your circumstances and objectives when determining what type of power to grant.
For example, some people have particular wishes, whether based on religion or personal preference, about how they should be cared for at the end of their life. Oftentimes, people who are at the end of their lives become unable to express their wishes. Thus, it becomes necessary to have somebody else who knows what they would want, and has the legal authority to give effect to those wishes.
Typically, you can find forms in Norwalk, Connecticut 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 Norwalk, Connecticut
In Norwalk, Connecticut, there are 3 types of power of attorney. They are:
1. Limited power of attorney - this authorizes the attorney-in-fact to act on your behalf on a single subject, in one instance. This is a good option if you are involved in a business transaction happening in another state or country. Suppose you want to buy a house on the other side of the country, and just need to sign a few papers to finish the deal. Rather than incurring the expense of traveling there, you could give limited power of attorney to a third party who lives in that state, and they can sign the paperwork for you, finishing the deal. The power you've granted them would expire automatically once the deal is done.
2. Durable power of attorney - unlike limited power of attorney, this does not automatically expire, and can last as long as the principal wishes. It can also be revoked by the principal. For instance, if you want someone to handle your financial affairs for a time, you can give them the relevant power in your power of attorney agreement, and it will last as long as you want it to. Of course, you should only give such authority to someone you trust.
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 Norwalk, Connecticut Lawyer Help?
Setting up a power of attorney arrangement in Norwalk, Connecticut 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.