General Power of Attorney
General power of attorney gives wide-ranging powers to a person or organization to take actions on your behalf, such as financial and business transactions, purchasing life insurance, settling claims, operating business interests, making gifts and hiring professional help.
If you plan to be out of the country and need someone to handle specific matters, a general power of attorney puts those measures in place. A general power of attorney is frequently part of an estate plan, as it ensures that someone is lined up to carry out financial matters on your behalf.
A general power of attorney ends when a person becomes mentally incapable to handle his/her own affairs as a result of sickness or injury.
Non-Durable Power of Attorney
If you need a specific task completed and you’re unable to do it yourself, a non-durable power of attorney enables you to designate someone to act on your behalf. For example, establishing a non-durable power of attorney authorizes someone to sign or execute dealings or documents on your behalf.
Durable Power of Attorney
This is similar to a general power of attorney, which one key exception: A durable power of attorney does not end when you become incapacitated. Toget this type of power of attorney, you are required to show in the document that you intend for the powers to continue despite incapacity.
Limited Power of Attorney
If you have business to conduct but you lack the expertise or capacity to do so, a limited power of attorney enables you to designate someone to act as a sort of “second in command” to you. It can give your second in command the power to perform tasks such as entering into contracts, making investment decisions, filing taxes, claiming inheritance, managing banking, buying and selling real estate and making health decisions on your behalf.
Medical Power of Attorney
This is a type of health care advance directive in which you appoint a person to make medical treatment decisions for you when you cannot make them for yourself. The person you name is called your agent, proxy, representative or surrogate. You can also include instructions for decision-making.
When choosing a medical power of attorney, it’s wise to consider someone who is willing to ask questions of medical professionals, and who can set aside their own feelings in order to carry out your desires regarding your health.
Without a medical power of attorney, the court will determine who will make medical decisions on your behalf if you are unable to do so.
Springing Power of Attorney
This type of power of attorney is named springing because it “springs” into action should you become incapacitated.
Hire Griffith, Young & Lass to Help You Establish a Power of Attorney in Carlsbad
At GYL, we believe in practicing law responsibly and ethically, and there’s no greater need for this type of moral compass than in matters pertaining to your personal wellbeing. As such, we take the process of establishing a power of attorney very seriously. If you are considering which power of attorney is best suited for your needs, we would be happy to review your situation and advise you accordingly.