In Mastic, New York, "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 can state in advance the scope and nature of the attorney-in-fact's authority. The agreement should be very clear on this matter, so you give the attorney-in-fact enough authority to carry out your instructions, but not more than they need in order to accomplish your objectives. Additionally, the attorney-in-fact should be someone you trust, such as a family member or life partner. You also need to be aware of the fact that your unique situation, as well as the actions you want the attorney to be able to take on your behalf, will help determine the most effective arrangement.
For example, if you have very specific wishes concerning end-of-life care, you should, of course, make them clear to the person who will be functioning on your behalf, and make sure they are prepared to carry them out. You should then grant them power of attorney, with the scope limited to particular healthcare and financial decisions. That way, if you become incapacitated, your loved one will be able to carry out your wishes, even if you are unable to express them.
In Mastic, New York, you can probably 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 require the parties to fill in the blanks with names, dates, and a few other details.
Types of Power of Attorney Arrangements in Mastic, New York
In Mastic, New York, power of attorney can take three main forms. They are as follows:
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 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 authorizes the attorney-in-fact to make important decisions for the principal if the principal becomes incapacitated.
3. Springing power of attorney - springing power of attorney is much like durable power of attorney, with one key difference: the power only takes effect upon the happening of a particular event. The principal is free to set whatever conditions they like in this arrangement, no matter how outlandish. Of course, in most cases, the setup is much more practical. A frequent arrangement permits a close friend or family member to make certain decisions for someone else, but only if that person becomes unable to make them himself.
Can a Mastic, New York Lawyer Help?
While setting up power of attorney in Mastic, New York 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.