Power of Attorneys can be a dangerous document. In our society, you are the only one who can sign your name. If someone else does, it is forgery and they can go to jail and you are not bound by what they do. If you give someone your power of attorney, you are giving them the authority to sign your name, and make you bound by it. You should be very careful in giving your power of attorney and consult with an attorney first.There are many types of Power of Attorneys. They can be "special", limited in the powers granted. They can be "general", being very broad in the powers granted. They can be limited in time (good for 1 day, 1 year, from ____ to ____, terminating in 1 year, etc.). They can be "durable", meaning that they continue even when you become incompetent.
Many people should consider a Durable Power of Attorney as part of their estate plan. This is a very limited Power of Attorney. Usually it is for the purpose of caring for you if you become incompetent, avoiding the necessity of a guradianship. It ususally becomes effective, if and only if, you become incompetent. It then is durable so it continues after you are incompetent. If you do not have this and you become incompetenet, it will most likely be necessary for your loved ones to establish a guardianship in court, taking time and money.
Our Renton law firm offers estate planning documents like Power of Attorneys. Please visit our web page at http://www.mgrlaw.com/ for more information, or call us at 4252-255-4542 to schedule an appointment. We service the greater Seattle and King County area, from Bellevue to Federal Way.
No comments:
Post a Comment