In Albemarle, North Carolina, "power of attorney" refers to a variety of different legal arrangements. However, the various systems which fall under the umbrella of that term have one thing in common: if somebody grants power of attorney to somebody else, the person with power of attorney is authorized to make specific decisions on behalf of the person who granted it. There are many reasons why a person might want to grant this power to another, but it typically granted in contemplation of the possibility that the grantor might become unable to express his or her wishes due to some form of incapacity.
The principal is able to dictate the specific 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 clearly 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.
Sometimes, you can find pre-printed forms in Albemarle, North Carolina allowing 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 Albemarle, North Carolina
Power of attorney in Albemarle, North Carolina takes 3 main forms. Which one is appropriate for you depends on your particular situation. They are:
1. Limited power of attorney - this lets the attorney-in-fact exercise limited authority in a single transaction. It is useful, for example, 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 gives the attorney-in-fact much more power than limited power of attorney. It can, in theory, give them unlimited power in a certain area of the principal's affairs. The document should lay out clearly what power the attorney-in-fact will wield. This arrangement, when used carefully, can be very useful, permitting the attorney-in-fact to make important decisions for the principal as long as is necessary, because it does not automatically disappear after a single transaction. Furthermore, the principal can revoke the power of attorney at any time.
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 determined by a court, which can be costly and time-consuming.
Can a Albemarle, North Carolina Lawyer Help?
While setting up power of attorney in Albemarle, North Carolina can be simple, there are some instances in which it will inevitably be complicated. In such cases, the process will be much easier if you have a brilliant attorney to help you along the way.