Power of attorney in New Castle, Indiana permits one person to make particular decisions for another, under particular conditions. There are different reasons why one might grant power of attorney. However, most of them revolve around the possible incapacitation of the person authorizing the power - so that their wishes can be carried out even if they become unable to express them.
The principal is able to dictate the precise scope of the attorney-in-fact's authority. If you are giving someone power of attorney, you're probably planning on giving it to a close friend, family member, or life partner. The exact scope of the power is up to you, and will depend on what your goals are.
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.
In New Castle, Indiana, you can likely find pre-printed forms at office supply stores available for purchase. They already have the basic terms of a power-of-attorney agreement written, and just need the parties to fill in the blanks with names, dates, and a few other details.
Types of Power of Attorney Arrangements in New Castle, Indiana
In New Castle, Indiana, power of attorney can take three main 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 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 lets an attorney-in-fact make decisions in a certain, defined area of the principal's affairs. Durable power of attorney doesn't automatically disappear, and can last indefinitely, or until the principal revokes it. This can be very useful, because it authorizes the attorney-in-fact to make essential decisions for the principal, but allows the principal to revoke the power if they regain the capacity to make their own decisions.
3. Springing power of attorney - under this arrangement, the attorney-in-fact does not get power of attorney until the happening of some mentioned event. The specified event is normally 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 decided by a court, which can be costly and time-consuming.
Can a New Castle, Indiana Lawyer Help?
Formulating a power of attorney agreement in New Castle, Indiana is not always easy. And even if the arrangement you want to set up is relatively simple, it might still be a good idea to have a lawyer go over it, just to make sure that there are no flaws that might keep it from being implemented.