Power of Attorney Types – Enduring Power of Attorney.
There are numerous powers of attorney that one can obtain in order to allow someone else to make a decision on your behalf. Before you run out and obtain a power of attorney, you need to know what type you need and the potential consequences that you face when you allow someone to make a decision for you. This article will cover obtaining an enduring power of attorney and the duties associated with such.
There are two main types of an enduring appointment, medical and financial. First, you need to make sure that you have the correct enduring power of attorney form so that you file the correct one. If you fail to use the correct form, the appointment could be challenged or otherwise left invalid. For this type of appointment, keep in mind that “enduring” means that the appointment endures or carries on when you no longer have the capacity to make those type of decisions yourself.
When you obtain an enduring power of attorney for financial matters, you are giving someone the power to make financial decisions on your behalf. You can already see that this could be dangerous to assign to just anyone so you want to make sure that the person (or persons) you assign have your best interest in mind and that you trust them. Depending on the powers you allow, a person could have access to your bank account, sign financial documents on your behalf, or make and receive payments on your behalf.
For medical appointments, you are considered the “donor” and the person(s) you appoint become the agent(s). Under this type of power of attorney, your agent will be able to make important medical decisions for you, including decisions related to your treatment, medications, and surgeries. This is a very important appointment as it deals with more than money, it deals with your life. Assigning this appointment to someone you do not trust is not wise and would not be advisable.
Jointly or Jointly and Severally:
As with a general power of attorney, you can assign the powers to one or more people. If you assign it to more than one person, you have the option of making it “jointly” or “jointly and severally.” Jointly means that everyone assigned as an attorney must agree on the decision being made and any documents associated with such must be signed by all of the attorneys. Jointly and severally means that the decision can be made by one or all of the attorneys assigned.
Again, make sure that anyone you want to make a decision on your behalf is someone you trust as you could possibly be beyond a capacity to revoke such appointment. Once you have made the decision on what type of powers you want to assign, make sure that you have the correct enduring power of attorney form so that it will be a legal, usable document.
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