Power of attorney in Soddy Daisy, Tennessee 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 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, some people have particular wishes, whether based on religion or personal preference, about how they should be cared for at the end of their life. Oftentimes, people who are at the end of their lives become unable to express their wishes. Therefore, it becomes necessary to have somebody else who knows what they would want, and has the legal authority to give effect to those wishes.
In Soddy Daisy, Tennessee, 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 Soddy Daisy, Tennessee
There are 3 power-of-attorney schemes that can be set up in Soddy Daisy, Tennessee. 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 often 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 - this lets an attorney-in-fact make decisions in a certain, defined area of the principal's affairs. Durable power of attorney doesn't automatically disappear, and can last indefinitely, or until the principal revokes it. This can be very useful, because it allows the attorney-in-fact to make essential decisions for the principal, but allows the principal to revoke the power if they regain the capacity to make their own decisions.
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 certain 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 common arrangement allows 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 Soddy Daisy, Tennessee Lawyer Help?
While setting up power of attorney in Soddy Daisy, Tennessee can be simple, there are some situations in which it will inevitably be convoluted. In such cases, the process will be much easier if you have a reputable attorney to help you along the way.