By its very nature, powers of attorney (POA) invite power of attorney abuse and over-reaching by the parties, called agents, who are to carry out the terms of a power of attorney . Fortunately, most people honor their duties under the law of a POA to act in a fiduciary capacity. However, for a steadily increasing number of POAs, there seems to be a trend against trustworthiness. This trend is occurring for at least three reasons:
There are many reasons to have a power of attorney, and the motivation for drafting the agreement often dictates its structure and details. These differences account for why two major laws address two types of POAs: the Uniform Durable Power of Attorney Act, adopted in almost all states for financial matters and the Uniform Health Care Decision Act for health care matters.
Be mindful of the time limit for your power of attorney agreement as well. Historically, POAs are almost always limited in duration, and expire in one year. Increasingly, however, more abuse issues are arising in durable power of attorney situations associated with long-term health care issues.
One of the biggest single causes of these avoidable misunderstandings is poor selection of the POA agent/representative. Due to mobile families and successive marriages and divorces, with extended familial ties, many people feel compelled to appoint virtually anyone they consider close enough, geographically, to trust. However, there are professionals available who may make the best POA agents.
Well-intentioned power of attorney instruments are increasingly being the subject of problems, which are almost exclusively questions of misunderstanding and ignorance rather than malice or greed. Unfortunately, simple mistakes often turn into deliberate cover-ups.
Many cases of power of attorney abuse involve family members. And, it is often difficult to tell whether power of attorney abuse is really even occurring since POA’s provide for a reasonable level of privacy. If you suspect that your loved one is a victim of power of attorney abuse, you should contact an attorney. It may be best to seek the appointment by the court of a guardian, or conservator, in cases where the victim is incapacitated or incapable of advocating on their own behalf.
POAs are here to stay: but while every state has some form of POA, differences also exist in every state.
Principal: The person who names someone else to help handle legal and financial matters. Attorney-in-Fact: The person who gets the power to handle legal and financial matters for the Principal. Successor Attorney-in-Fact: Someone who can take over if the Attorney-in-Fact has to stop.
NOTE: When you name an Attorney-in-Fact, it doesn't mean you give up power over your legal and financial matters. it only means that your Attorney-in-Fact also has power over those matters.
It uses your answers to fill out your form. You can print your form, get it notarized, and give it to your Attorney (s)-in-Fact. It could take up to an hour to get through the interview. If you don't have enough time to finish, save your answers by creating an account with LawHelp Interactive.
First, you need a name and address for: Also, if you want to give your Attorney-in-Fact power over real estate transactions, but you want to limit that power to a certain property, you will need to provide the "legal description" of that property.
In short, a power of attorney has the authority to take legal action on behalf of another person–the principal. Let’s take a look at what that means for both of you.
The two primary types of power of attorney are financial power of attorney and medical power of attorney . While the financial power of attorney ’s role concerns legal and financial affairs, the medical power of attorney handles health and medical decisions. For the purposes of this article, we’ll focus on financial power of attorney.
Most power of attorney documents are drawn up in that way. It’s possible that the scope or duration of your power may be limited under the power of attorney document, but if not specified, then your authority and duration are unlimited.
A power of attorney document lets you choose a trusted friend or relative to help you with your finances and/or health care decisions. After you sign it, the person you choose will take the power of attorney document to your medical providers, bank, school, and other places to make decisions and sign contracts just as if he or she were you. ...
You should sign your Durable Power of Attorney document in front of a notary. If you cannot find a notary, you can sign it in front of two "disinterested" witnesses instead. However, notarization is preferred, especially for a Durable Power of Attorney for Finances.
As mentioned above, a POA is a legal instrument. This means you need to familiarize with some of the terms used. Two of the most important being the principal and the agent/surrogate/attorney-in-fact/proxy or executor.
Revocation of Powers of Attorney. The powers granted to the agent are revocable if a revocation notice is issued to the agent, upon divorce when the agent is a former spouse, or if the principal expresses their intention to revoke the powers in writing or verbally with witnesses present.
The legal requirements for the execution of a POA may have small differences depending on the state, but the document is legally executable only if: The document is in writing and signed by the principal, with at least two adult witnesses present. The witnesses should not be related to the principal or each other.
A Springing Power of Attorney allows you to choose when your Power of Attorney will come into effect. Otherwise, it will come into effect once you sign it.
Non-durable POA. This is only used for a limited period or a specific transaction. This means that the agent only gets the power to transact in your place and the powers end when the task is completed. The powers of the non-durable POA also cease to exist in the event of the principal’s incapacitation.
The first thing that springs to mind when someone is given powers of attorney is ‘‘what that is,’’ or ‘‘why me,’’ and ‘‘what will I do.’’
Springing POA. The powers of attorney could be executable immediately after the document is signed and/or, as is a common arrangement for most people, only enforceable on a future date and time , or when a special event occurs such as incapacitation or absence from the country.
You can revoke power of attorney at any time by filling out a revocation form. List the name of the authorized agent, the date of the original PoA form, and have a notary public notarize the form.
Power of Attorney is an authorization that grants someone the power to represent you when handling financial, legal, or medical matters. In Alabama, the status is durable by default. Durable power of attorney is a type of authorization that doesn’t end if the principal becomes unable to make decisions, for instance, due to an illness or accident. However, you can add a section to your form to limit the power you’re granting.
Alabama uses a type of POA called uniform power of attorney. When you fill out a power of attorney Alabama form, it grants certain rights to your representative by default.
In Alabama, power of attorney will remain in effect until you issue a revocation.
It’s possible to grant power of attorney to appoint someone to care for a child. This can go into effect right away or in the event that the parents or guardian become incapacitated.
Alabama law doesn’t require you to notarize your PoA form, but this practice makes the form more genuine. You can notarize documents by filling out and signing the form in front of a notary public who will verify the identity of the principal, attorney-in-fact, and witnesses before applying their seal to the form.