Power of attorney in Rapid City, South Dakota 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 variety of reasons, both personal and business-related, but it is often done to allow the attorney-in-fact to make essential decisions for the principal in the event that the principal becomes incapacitated or disabled, and thereby unable to make his or her own decisions.
If you are giving someone power of attorney, it's up to you to decide exactly what kind of decisions they will be able to make, and when they'll be able to make them. In any case, however, it's very important that you completely trust the person to whom you're granting this authority, since any power of attorney, even if it's very limited in scope, can be abused. Obviously, whatever type and amount of power you wish to give will depend on your intentions, as well as many external factors.
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 acting 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 certain 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 Rapid City, South Dakota, you can find pre-printed power-of-attorney forms in many office supply stores. If the agreement you want to create isn't very complex, these could be a viable and very affordable option. Of course, it never hurts to have a lawyer help.
Types of Power of Attorney Arrangements in Rapid City, South Dakota
In Rapid City, South Dakota, there are 3 forms of power of attorney. They are:
1. Limited power of attorney - limited power of attorney gives the attorney-in-fact the power to act on your behalf on a single issue, in a single transaction. For example, if you are buying a house in another state, you may wish to grant limited power of attorney to a friend or relative who lives in that state, so they can sign all of the relevant documents on your behalf, so you don't have to incur travel expenses. For obvious reasons, you should only grant this power to someone you trust. Once the transaction is complete, the power of attorney automatically disappears.
2. Durable power of attorney - unlike limited power of attorney, discussed above, this does not automatically expire, though the principal can terminate it at any time. It is usually not limited to a single transaction, either. Rather, it covers a broader subject matter, though it still has limits. For example, you could give someone durable power of attorney to make medical decisions for you, but they would only be allowed to act in that context.
3. Springing power of attorney - this is similar to durable power of attorney, but the power is conditional. That is, it does not take effect unless some specific event takes place. This event can be anything. Most often, however, the agreement allows the attorney-in-fact to make important medical and financial decisions for the principal, only in the event that the principal becomes incapacitated. However, there are sometimes disagreements over whether or not a person is actually "incapacitated" to the point that the power of attorney has been triggered. This can lead to a court of law having to decide the issue.
Can a Rapid City, South Dakota Lawyer Help?
Creating a power of attorney agreement in Rapid City, South Dakota is not always easy. And even if the arrangement you want to set up is relatively simple, it might still be a good idea to have a lawyer go over it, just to make sure that there are no flaws that might prevent it from being implemented.