An attorney will recommend that you have a power to represent you, click for source. A Power of attorney is a document that authorizes someone to handle your affairs in case you become incapacitated or have difficulty. A Power of Attorney can be necessary as a result of illness or age. The person given the power to act will usually do so with the best intentions. However, what happens if someone you trust uses the Power of Attorney to gain personal benefit or gain? While a Power of Attorney may appear to be a straightforward document, it can have profound and unexpected consequences. It can be tempting for the one who has it to make use of it.
A Power of attorney is a legal document that gives someone (the “Principal”) the authority to act in the Principal’s name. If the Principal is unable, incapacitated, or otherwise incompetent to manage her financial affairs, the Power of Attorney will allow the designated person (or persons) to pay bills, deal or assist with lawyers and other professionals and to do any other thing that is in the Principal’s best interests.
A Power to Attorney can be either general which gives the Attorney in-fact the power to do what the Principal would do, or it may be limited, which means it has a limited scope and/or duration. A Power of Attorney can be restricted to a specified act or type, such a limited Power to attend a closing and sign closing documents on behalf a buyer or seller. It may also be limited in duration, such a Power that is only effective while someone is on vacation. The Power of Attorney can also be durable. It takes effect on the date of execution. For a springing Power of Attorney to be effective, it must be approved by the Court. This can take quite a while – not to mention the initiation and ongoing legal proceedings. The Court will also hire an independent person to interview the incompetent. A hearing in Court is often held at the most difficult time, when immediate or immediate action is needed.