Power of attorney in Farmington Hills, Michigan 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.
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 generally 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.
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 decisions 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 also clearly state that this power will not actually 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.
Occasionally, you can find pre-printed forms in Farmington Hills, Michigan permitting you to easily draft a power of attorney document. In some cases, this may be all you need. These forms already have the basics of such an agreement committed to writing. All you and the other party have to do is fill in the blanks, per the instructions, and possibly have the forms notarized.
Types of Power of Attorney Arrangements in Farmington Hills, Michigan
In Farmington Hills, Michigan, power of attorney can take three basic forms. They are as follows:
1. Limited power of attorney - this allows 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 finalize 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, completing the deal. The power you've granted them would expire automatically once the deal is done.
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 - 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 Farmington Hills, Michigan Lawyer Help?
Because setting up a power of attorney agreement is not always easy in Farmington Hills, Michigan, it's never imprudent to at least consult with a lawyer beforehand. As with any legal agreement, there are things that can go wrong, which laypersons may not foresee.