LOVELY ENTERPRISES & CONSULTING / UI DESIGNS
POWER OF ATTORNEY
General Power of Attorney
Allow someone you designate (called an agent) to make a wide range of legal decisions on your behalf, including managing your finances, buying or selling property, and entering into contracts, essentially giving them the authority to handle almost any legal action you could take yourself.
DOCUMENT DEFINES:
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Broad authority: The agent has the power to act on your behalf in various situations, including managing bank accounts, investing money, selling assets, and signing documents.
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Important consideration: Because of the extensive power it grants, it's crucial to only give a general power of attorney to someone you fully trust.
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Temporary use: Often used for short-term situations like travel where you need someone to handle your affairs while you are away.
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Durable Power of Attorney
The Durable power of attorney remains valid even if you lose mental capacity; essentially, it ensures your affairs are managed by someone you choose even when you can't manage them yourself.
DOCUMENT DEFINES:
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Purpose: To designate an agent who can handle your finances, healthcare decisions, or other legal matters if you become mentally unable to do so.
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"Durable" meaning: Unlike a standard power of attorney, a durable power of attorney does not expire if you become incapacitated.
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Agent's authority: The agent you choose can make decisions like paying bills, selling assets, managing investments, or making medical choices on your behalf depending on the scope of the document.
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When to create one: It's recommended to create a durable power of attorney when you are healthy and mentally competent to ensure your wishes are followed if you become. incapacitated in the future.
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Limited (Special) Power of Attorney
A legal document that allows someone to make specific decisions on behalf of another person, for a defined period or a particular purpose, meaning the agent's authority is restricted to only those outlined actions and not broader financial or legal matters; essentially, it gives the agent limited power to act on the principal's behalf only in specific situations.
DOCUMENT DEFINES:
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Specific scope: The agent can only act within the clearly defined boundaries set out in the document, such as selling a particular piece of real estate or managing a specific bank account.
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Time limitations: The power of attorney can be set to expire after a certain period, like during a temporary absence or for a specific project.
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Also called "Special Power of Attorney": These terms are often used interchangeably.
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Medical Power of Attorney
A medical POA is a type of advance directive, and it can also be called a durable power of attorney for health care. It can give your agent the authority to make decisions about: Treatment options, Medication, Surgery, and End-of-life care.
DOCUMENT DEFINES:
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Medical treatment: Decisions about diagnostics, medications, surgery, and end-of-life care
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Caregivers and hospitals:The right to choose your doctors, caregivers, and hospitals
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Long-term care: Decisions about long-term living arrangements, such as assisted living or a nursing home.
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Legal documents: (Optional) The right to open lawsuits and sign legal documents on your behalf
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Organ donation: Whether you want to donate organs
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Body disposition:How you want your body to be disposed of after you die
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Legal guardian: The name of a legal guardian if necessary
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Springing Power of Attorney
A legal document that allows someone to act on your behalf when you are unable to make decisions for yourself. It's a type of durable power of attorney, but it doesn't take effect immediately. Instead, it "springs" into action when specific conditions are met, such as if you become incapacitated.
DOCUMENT DEFINES:
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Activation Trigger: The document clearly states the event that triggers the agent's authority, typically defined as incapacitation due to medical reasons.
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Incapacitation Verification: Specifies how incapacitation will be determined, often requiring a medical professional's certification.
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Agent's Authority: Details the specific powers granted to the agent, such as managing finances, making medical decisions, or selling property, once the springing condition is met.
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Principal's Control: Allows the individual creating the document (the principal) to retain control over their affairs until they become incapacitated.
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Encrypted Online Estate Vault
An online Estate Vault is the ideal platform for storing and sharing your estate planning documents and other important files.
DOCUMENT DEFINES:
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After creating your documents with Stuckey Enterprises, you can upload them to a digital Estate Vault of your choice and then invite your loved ones to access them.
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Your Cost: $250
Printing Fee: 1.50/p