Granting Durable Power of Attorney
Granting power of attorney allows another individual (called the attorney-in-fact) to make important legal decisions on your behalf and act in your stead should the situation warrant it. An attorney-in-fact is able to manage your assets without court supervision, yet their authority ceases upon your death or incapacitation. A durable power of attorney, however, continues to be legitimate even upon the event of your incapacitation.
customize the power of attorney
The power of attorney you grant can be very general or quite specific, depending on how you would like to structure it. While a general power of attorney allows the attorney-in-fact to perform nearly any legal action, more specific powers can be granted — such as the ability to sell your home or make more limited financial decisions.
Planning for the Long Term
It is important to coordinate the powers of attorney you grant with the wider framework of your estate plan. It is also critical to clearly specify and outline the boundaries of authority of your attorney-in-fact to secure the effectiveness of your estate plan. This balance can be extraordinarily tricky in some cases, and it is critical to consult a qualified legal representative for direction and guidance.
Granting the power of attorney is often a life-changing decision, and having the guidance of an experienced legal representative in Placerville, Calif. can be invaluable in this matter.