Power of attorney in Boone County, Kentucky allows one person to make certain decisions for another, under certain 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.
If you are giving someone power of attorney, it's up to you to decide exactly 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.
For instance, if you have very particular wishes concerning end-of-life care, you should, of course, make them clear to the person who will be acting on your behalf, and make sure they are ready to carry them out. You should then grant them power of attorney, with the scope limited to certain healthcare and financial decisions. That way, if you become incapacitated, your loved one will be able to carry out your wishes, even if you are unable to express them.
In Boone County, Kentucky, 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 Boone County, Kentucky
In Boone County, Kentucky, power of attorney can take three basic 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 regularly 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 right 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 allows 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 certain 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 common arrangement allows 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 Boone County, Kentucky Lawyer Help?
Creating a power of attorney agreement in Boone County, Kentucky 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.