Our law firm will assist you in drafting a power of attorney to prepare for the management of your assets in the event you are incapacitated to ensure that your legacy is properly managed. Contact us today for power of attorney services in California.
What is Power of Attorney (POA)?
A power of attorney is a document allowing you to appoint a person or organization to manage your property, financial, or medical affairs if you become unable to do so. Keep in mind not all POAs are created equal. There are four different types of power of attorneys, giving your attorney-in-fact a different level of control.
1. General Power of Attorney
A general power of attorney gives broad powers to a person or organization to act on your behalf. This is a good choice if you will be out of the country and need someone to handle matters or when you are physically/mentally incapable of managing your affairs. They are often included in an estate plan to make sure someone can handle financial matters.
2. Special Power of Attorney
A special power of attorney allows you to specify exactly what powers an agent may exercise. This is often used when you cannot handle certain affairs due to other commitments or health issues. Some examples of matters specified in a special power of attorney are selling property, managing real estate, collecting debts, and handling business transactions.
3. Health Care Power of Attorney
A health care power of attorney grants your agent authority to make medical decisions for you if you are unconscious, mentally incompetent, or unable to make decisions on your own.
4. Durable Power of Attorney
A durable power of attorney is a general, special, or health care POA that has a durability provision to keep the current power of attorney in effect. You might also sign a durable power of attorney to prepare for the possibility that you may become mentally incompetent due to illness or injury.