Power of attorney in Highland Heights, Kentucky allows one person to make certain decisions for another, under certain conditions. There are numerous 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.
One very common 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. Therefore, 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.
In Highland Heights, Kentucky, 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 Highland Heights, Kentucky
There are 3 power-of-attorney schemes that can be set up in Highland Heights, Kentucky. Which one is best for you will largely depend on your goals, and your individual situation. They are:
1. Limited power of attorney - this is probably the most limited form of power of attorney. It lets someone act on your behalf in a single instance. It is used most often in large sales transactions involving a written contract. If the closing of the deal is set to take place far away from where one of the parties is located, they can give limited power of attorney to someone who is closer. All you have to do is give that person the power to act on your behalf in this one transaction. This authority automatically expires once the deal is finished.
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 form of power of attorney which doesn't actually take effect until the occurrence of some specified event. This event can be anything, but it is usually the principal becoming disabled. You should be aware, though, that it is not always clear what "disabled" means in such an agreement, which can result in disagreements, resulting in litigation.
Can a Highland Heights, Kentucky Lawyer Help?
Creating a power of attorney agreement in Highland Heights, 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.