Post on 21-May-2015
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WHAT IS A POWER OF ATTORNEY?
LEGALLY BINDING DOCUMENT
A power of attorney is a legally binding document
Powers of attorney are used within the legal field
to accomplish a variety of objectives
EMPOWERING A REPRESENTATIVE
When you create a power of attorney
you empower a representative to act on your behalf
THE GRANTOR OR PRINCIPAL
The person creating the power of attorney is called the
grantor or principal
AGENT OR ATTORNEY-IN-FACT
The individual who is empowered to act on behalf of the grantor is called the
agent or attorney-in-fact
INCAPACITY PLANNING
INCAPACITY PLANNING involves selecting a
representative to act for you in the event of
your incapacitation
DURABLE POWERS OF ATTORNEY
Durable powers of attorney are used for incapacity
planning purposes
With a durable power of attorney you name an agent
who can act on your behalf in the event of
your incapacitation
Because of the “DURABLE” designation, it remains in effect even if you become incapacitated
FREE INCAPACITY PLANNING CONSULTATION
If you are interested in preparing for possible incapacity as a senior citizen
contact our firm to schedule a free consultation