In Mount Vernon, Ohio, "power of attorney" refers to a variety 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 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. Furthermore, 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 common 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. Therefore, 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.
In Mount Vernon, Ohio, 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 Mount Vernon, Ohio
There are 3 basic arrangements that power of attorney can involve in Mount Vernon, Ohio. They are:
1. Limited power of attorney - this is the most limited form of power of attorney. It lets the attorney-in-fact exercise his or her power once, and in only one instance (laid out by the principal, of course). This is typically used in business deals, if it is not convenient for the actual party to a deal to be physically present for the signing of some documents, it can be done through an attorney-in-fact. You simply need to give them the power to sign the paperwork on your behalf, and it will be just as binding as if you had signed the documents yourself.
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 specific area of the principal's affairs. The document should lay out exactly what power the attorney-in-fact will wield. This arrangement, when used carefully, can be very useful, allowing 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. Also, 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 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 determined by a court, which can be costly and time-consuming.
Can a Mount Vernon, Ohio Lawyer Help?
Setting up a power of attorney arrangement in Mount Vernon, Ohio can be easy, but it can also be very complicated. It just depends on what you're trying to do. However, if you are at all unsure about how to proceed, it would probably be a good idea to have an attorney draft the agreement for you.