A Power Of Attorney is a legal document that allows you to designate or appoint a representative, such as a spouse, adult child, or another person you trust, to act in your place. The Power of Attorney grants that person, called your “Attorney-in-Fact,” the power to act as though he or she was you, so the decision about whom to appoint should be well-considered.

Powers of Attorney can be “General” (granting full power to act for you in all matters, including the right to sell your assets, even real estate, and dispose of the proceeds) or “Limited” (granting only the power to act for you in a very specific purpose). An example of a Limited Power of Attorney would be one granting another person authority to sell a vehicle on your behalf. In that case, your Attorney-in-Fact would be able to sign the vehicle title or other documents transferring the vehicle and collect the proceeds. A Limited Power of Attorney is a versatile instrument that can be used any time that you need to be able to accomplish something, but you cannot be there in person to do it yourself.

The General Power of Attorney allows a very trusted person, such as a spouse, to act as your Attorney-in-Fact for any legal purpose. As mentioned before, it even allows your Attorney-in-Fact to sell your real estate and to spend any or all of your money. If it is made “durable,” which allows your Attorney-in-Fact to continue exercising your authority even if you become incapacitated, it can be very useful for allowing a spouse or close loved one to carry on necessary affairs should you become ill or otherwise unable to manage your own affairs.

Normally, if you were to become mentally incapacitated to make your own decisions about your basic affairs, a family member or close friend would have to begin a court action to have a Guardian appointed to manage those affairs for you. (For example, this would be the case when a person has had a stroke, or an elderly person has developed advanced Alzheimer’s disease, but there are many other examples). The court would then make a decision about who to appoint as your Guardian, and it might not be the person you would have preferred. A General Power of Attorney with “Designation of Guardian” can be used to avoid the court process and allow you to make the decision, in advance, about the person you would prefer to have act as your Guardian in the event that you were to become incapacitated.

Any of the powers described above can be combined or limited through carefully worded Powers of Attorney. Slatter Law can help you set up one or more Powers Of Attorney appropriate to address your specific needs, including but not limited to:

• Limited Power of Attorney (sale of assets)
• General Power of Attorney and Designation of Guardian (individual or granted jointly to two Attorneys-in-Fact)
• Durable Financial Power of Attorney

To learn more about the many ways that you can use the versatile Power of Attorney to accomplish your purposes, please click here to view our legal estate planning documents or  register here with Slatter Law to create an account to discuss your specific needs.