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Property and Finance Lasting Power of Attorney Signing Guide

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Convenience is one of the advantages of having a power-of-attorney document. Take this scenario as an example: you are selling a property and in a few weeks, you are going to be out of the state for a business purpose. Now, you might be worried that an interested buyer would visit your home while you are away. A power of attorney can also be given to people, authorizing them to refuse or allow medical care to the principal if they become incapable of making decisions for themselves. This also includes making the decision to pull the plug in cases when only a machine is keeping the principal alive. Some people are also given the power of attorney to take care of a principal s financial portfolio. It is important that the person be able to spend much time to handle your affairs and work on your behalf. If not, you would be in trouble. Is the person easily available? Appoint an agent or attorney-in-fact who is easily accessible or available. This is to make sure he/she would always be there in cases of emergency. Principals who are physically injured, sick or mentally unhealthy are deemed incapable of giving power of attorneys. When power of attorneys are given under these circumstances, all the legal documents the agent signs or agrees to will not be honored in court and will be deemed ineffective. Also, the scope of the power of attorney will also become ineffective when the principal dies or becomes incapacitated, meaning if they suddenly suffer from an illness, physical or mental. In the durable power of attorney, you are acknowledging the possibility that you could become mentally or totally incompetent because of any accident or illness. For this power of attorney to take effect there has to be a genuine certification from a doctor to prove the incompetence. In every power of attorney you would get into, it is always important to make sure you are choosing and agent or an attorney-in-fact who is very trustworthy and reliable. Do I need to appoint a lawyer as an agent? The agent is also usually called the attorney-in-fact. You could appoint a lawyer as your agent. However, it is not a requirement. In fact, you could appoint just about anyone (in legal age) as your attorney-in-fact. The appointment and authorization should be clearly stated in the legal document (a power of attorney is actually a legally effective document). 

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