In Hyde Park, New York, "power of attorney" refers to a number of different legal arrangements. However, the different 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 certain 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 usually granted in contemplation of the possibility that the grantor might become unable to express his or her wishes due to some form of incapacity.
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 Hyde Park, New York 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 Hyde Park, New York
Power of attorney in Hyde Park, New York takes 3 main forms. Which one is appropriate for you depends on your individual case. 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 - under this arrangement, the attorney-in-fact does not get power of attorney until the happening of some specified event. The specified event is usually 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 decided by a court, which can be costly and time-consuming.
Can a Hyde Park, New York Lawyer Help?
Because setting up a power of attorney agreement is not always easy in Hyde Park, New York, 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.