6 Misconceptions About a Power of Attorney
All Powers of Attorney terminate upon the death of the principal, and thus the agent’s authority also terminates. When drafting a POA, one should familiarize themselves with the differences between a Regular Power of Attorney and a Durable Power of Attorney. A Power of Attorney can be used when you want to appoint an expert to handle affairs you, even when you aren’t deemed legally incompetent. A Regular POA terminates upon incapacity or death of the principal, meaning an agent’s authority exists so long as the principal is alive, invalidated upon death or incapacity. A Durable Power of Attorney is as it name indicates, is durable through mental incapacity, allowing an agent to act on the principal’s behalf even when the agent is incapacitated or unable to communicate.
Familiarize yourself with these common misconceptions concerning a Power of Attorney document to spare yourself and family members from potentially distressing, confusing, and embarrassing future situations where they unsure of how to act and resolve your personal, legal, medical, and financial matters.
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Rachel Ryan a legal writer for LegalTemplates.net. Rachel specializes in providing professional, diverse and creative articles, equipping individuals with the perfect tools for a variety of legal issues. When she’s not writing awe-inspiring content, she can be found trying to become the next Martha Stewart.