In Grafton, Ohio, "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 often 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.
One very frequent reason for granting power of attorney is that the grantor believes that they might become incapacitated, due to age or illness, in the relatively near future, and they want to make sure that their preferences relating to care at the end of their life are followed. Of course, if nobody knows what that person's preferences are, and the patient is unable to express them, family members and doctors will simply have to guess. Obviously, there's a good chance that they could get it wrong. Thus, you should make your desires well-known to those who will be in a position to implement it, and grant, in writing, a person you trust (such as a spouse, life partner, sibling, or adult child) the power to carry out your wishes, if necessary.
Typically, you can find forms in Grafton, Ohio that let you easily draft a power of attorney document. However, if a massive amount of money is at stake, or you wish to grant very specific and limited powers, you should probably consult with a lawyer beforehand.
Types of Power of Attorney Arrangements in Grafton, Ohio
In Grafton, Ohio, there are 3 forms of power of attorney. They are:
1. Limited power of attorney - this authorizes 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 finish 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, finishing 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 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 Grafton, Ohio Lawyer Help?
While setting up power of attorney in Grafton, Ohio 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.