Power of attorney in Miami, Oklahoma is a legal setup in which one person (the principal) grants another (the attorney-in-fact) the authority to make legally binding decisions on his or her behalf. This is done for a number of reasons, both personal and business-related, but it is frequently done to permit the attorney-in-fact to make crucial decisions for the principal in the event that the principal becomes incapacitated or disabled, and thereby unable to make his or her own decisions.
The principal is able to dictate the precise scope of the attorney-in-fact's authority. If you are giving someone power of attorney, you're probably planning on giving it to a close friend, family member, or life partner. The exact scope of the power is up to you, and will depend on what your goals are.
For instance, if you have very particular desires for your end-of-life care, but are worried that you won't be able to express your wishes when the time comes, you can grant someone power of attorney in advance, so they'll be able to ensure that your wishes are carried out, if necessary. You should draft an agreement giving the attorney-in-fact power of attorney only in the event that you truly become incapacitated. Presumably, if you are able to make and express your own medical decisions, you'll want to do it yourself.
In Miami, Oklahoma, you can likely 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 need the parties to fill in the blanks with names, dates, and a few other details.
Types of Power of Attorney Arrangements in Miami, Oklahoma
There are 3 power-of-attorney arrangements that can be set up in Miami, Oklahoma. Which one is best for you will largely depend on your goals, and your individual situation. 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 frequently 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, discussed above, this does not automatically expire, though the principal can stop it at any time. It is typically not limited to a single transaction, either. Rather, it covers a broader subject matter, though it still has limits. For instance, you could give someone durable power of attorney to make medical decisions for you, but they would only be permitted to act in that context.
3. Springing power of attorney - this is a form of power of attorney which doesn't truly take effect until the occurrence of some stated event. This event can be anything, but it is frequently the principal becoming disabled. You should be aware, though, that it is not always clear what "disabled" means in such an agreement, which can result in disagreements, resulting in litigation.
Can a Miami, Oklahoma Lawyer Help?
While setting up power of attorney in Miami, Oklahoma can be simple, there are some cases in which it will inevitably be convoluted. In such cases, the process will be much easier if you have a reliable attorney to help you along the way.