People have the right to make their own decisions concerning their present and future. This includes the ability to make medical choices, buy and sell property, and make business decisions.
However, situations can arise where individuals are left unable to make these choices. A medical condition that results in a physical or mental incapacity may necessitate help from others. In other cases, a party will be out of the country or otherwise unable to oversee financial transactions. In either case, it is best to be prepared for these situations.
A hard-working Manhattan power of attorney lawyer may be able to help. A power of attorney can grant other parties the specific power to make decisions on your behalf if you become unable to do so yourself. To learn whether this power of attorney is the right choice for you, it could be beneficial to work with a skilled local estate attorney.
The Legal Impact of a Power of Attorney
In simple terms, a power of attorney gives one person the ability to make decisions on behalf of another. These powers come in two forms. Parties may grant power of attorney for a specific purpose or provide general powers.
A specific power of attorney could have the right to make medical decisions, the ability to sell or purchase property, or the right to make business decisions. There is no limit as to the extent of powers that a party may receive under a specific power of attorney. However, these powers of attorney usually only last for a specified amount of time.
General powers of attorney give one party complete control over another’s decisions. These documents may last for a specified period of time or last indefinitely. In fact, a durable power of attorney only ends after the principal’s death. A knowledgeable POA lawyer in Manhattan could provide more information about the various forms of powers of attorney and their legal impact.
How to Create or Destroy a Power of Attorney
It is clear that a power of attorney grants significant privileges to another party. It is also a willing indication of a person’s desire to surrender this power. As a result, the law requires a clear statement of intent when a party creates a power of attorney.
According to Kansas Statute § 58-652, parties granting power of attorney to another must contain a statement clearly indicating the desire to create a POA. In addition, the document must contain the subject’s signature with a notary’s stamp.
Once a party signs a power of attorney, it goes into immediate effect and lasts for as long as the document indicates. However, parties have the option to revoke this power at any time. In certain situations, this may require an official notice of termination of the party with the power of attorney recorded the document with local authorities. An experienced Manhattan POA lawyer could help parties to create or destroy powers of attorney.
Speak to a Manhattan Power of Attorney Lawyer Today
Situations may arise where you become unable to care for your own wellbeing. These cases may be temporary or permanent. In both scenarios, it may be helpful to instill the power of attorney to allow other people to make key decisions.
A Manhattan power of attorney lawyer could explain the role of a POA and how to give these documents legal effect. If you foresee the need to give another person the ability to make decisions on your behalf, contact our team today.