In Bridgewater, New Jersey, "power of attorney" refers to a variety of different legal arrangements. However, the numerous 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 given 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 in a power-of-attorney arrangement is the one who determines the scope of the power that the attorney will be able to wield, and the circumstances under which they can wield it. Generally, you can grant the attorney-in-fact as much or as little decision-making power as you'd like. In every case, however, you should only enter a power-of-attorney arrangement with somebody you trust. The nature of the power you should grant depends heavily on the context, and what your wishes 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 arrangements 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 additionally clearly state that this power will not directly 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 Bridgewater, New Jersey, you can sometimes find pre-printed forms that let you easily draft a power-of-attorney agreement. However, if your situation is particularly complex, you should probably have a lawyer draft it for you, to ensure that the agreement is enforceable, or that there are no surprises.
Types of Power of Attorney Arrangements in Bridgewater, New Jersey
In Bridgewater, New Jersey, there are 3 forms of power of attorney. They are:
1. Limited power of attorney - this permits 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 occurring 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 complete 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, finalizing 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 example, the power 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 permits the attorney-in-fact to make important decisions for the principal if the principal becomes incapacitated.
3. Springing power of attorney - this is similar to durable power of attorney, but the power is conditional. That is, it does not take effect unless some particular event takes place. This event can be anything. Most frequently, however, the agreement permits the attorney-in-fact to make important medical and financial decisions for the principal, only in the event that the principal becomes incapacitated. However, there are sometimes disagreements over whether or not a person is truly "incapacitated" to the point that the power of attorney has been triggered. This can lead to a court of law having to decide the issue.
Can a Bridgewater, New Jersey Lawyer Help?
Drafting a power of attorney agreement in Bridgewater, New Jersey 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 prevent it from being implemented.