Granada Hills Power of Attorney
What is a durable power of attorney?
A durable power of attorney allows you to name agents to handle your business and financial affairs if you cannot. As described by Granada Hills power of attorney Michelle Castillo, they basically have the legal authority to stand in your shoes and take actions on your behalf. This is particularly helpful if a mental or physical disability prevents you from managing your own affairs. This document is not for health care matters.
Moreover, a power of attorney is a two-party agreement between the principal and agent or attorney. The principal is the person who gives the agent permission to make decisions on his or her behalf. This agreement is created through a legal document making the power of attorney official.
How many types of power of attorneys are there?
Power of attorney documents are usually defined in one of two ways:
1. Time the power of attorney takes effect
Durable Power of Attorney
Springing Power of Attorney
2. Type of matters covered in the power of attorney
General Power of Attorney
Limited Power of Attorney
Power of Attorney for Health Care
One of the most common is the durable power of attorney. This is when the principal becomes incapacitated, but does not affect the durable power of attorney. It will continue despite the incapacitated principal.
Deciding which power of attorney document is best for you can be tricky, so it is always best practice to check in with a Granada Hills Power of attorney-expert.