A Special Power of Attorney is a legal document written by the so-called ‘Principal’ that details the specified and specific wishes and directions for an ‘Agent’, ‘Attorney-in-fact’ or ‘Attorney’ to carry out.
This document also covers:
Both the Principal, or their legal agent and the Attorney should keep a copy of the signed document for their records.
You can use this power for any type of activity you anticipate the need to authorize another to carry out:
People who may find this information useful are:
This legal contingency document grants power to an ‘agent’ / ‘attorney’ the authority to act on behalf of the principal who made the pre-arrangements, under certain, specified circumstances outlined in the document.
Single / Multiple Powers of Attorney: Anyone over 18 can create multiple special powers of attorney, authorizing different people or agencies to act on their behalf under each separate arrangement.
Contingency Management: Special circumstances can arise or be anticipated that oblige someone to consider authorizing another person or agent to act on their behalf as a contingency. People employing this legal measure include military personnel who anticipate overseas deployment and possible incapacitation, people diagnosed with Alzheimer’s disease or debilitating illness in the family, retirees, or business people who travel extensively, for instance.
Your Agent / Attorney: The person chosen to handle your affairs will be someone trustworthy who will carry out your affairs should an emergency or need arise. Spouses do not automatically have designated power of attorney where for instance, a property is in your name only. As such, these instruments protect your interests and must be set up by you.
Lack of Preparation: Family members cannot obtain power of attorney when they realize that a relative cannot handle their own affairs. Where no prior arrangement is made by them, a court appoints a guardian or conservator. This can take time, cost more money and create problems, particularly given that neither the family nor the person in need of power of attorney has no control over who is appointed attorney. This information is also made public.
Jurisdiction Variations: laws and requirements in the state where you live. There is no uniform POA common to every state.
Differences Between Wills and Power of Attorney: A will is not a substitute for granting power of attorney whilst you are alive. Wills distribute your property after death only. Granting power of attorney means that critical decisions that need to be made and acted on will continue while you are merely unable to carry out these responsibilities due to life circumstances.
What is the biggest difference between durable or lasting power of attorney and special power of attorney?
A special or limited power of attorney limits the attorney’s scope to act on behalf of a principal to particular specified purposes for when the principal isn’t available or is unable to do so.
What issues can a special power of attorney apply to? Should I establish separate powers of attorney?
Special power of attorney can apply for a limited time period or a specific purpose. Examples of special powers to act on behalf of a principle include areas such as: health care, care and custody of children, real estate matters and buying, selling or disposal of assets.
Am I required to file a Power of Attorney in a government office?
This is not generally necessary. However, where the sale and purchase of real estate is concerned, this must be recorded in the county real estate records.
A Special Power of Attorney document details the specific wishes and directions for an ‘Agent’, ‘Attorney-in-fact’ or ‘Attorney’ to take decisions on behalf of the 'Principal'. It covers: • The term or length of the delegated power(s), i.e. fixed or periodic • The amount and frequency of specified activities needing to be carried out • Financial, business or property details • Who is responsible for specified activities and to what extent they have authority to act on the Principal’s behalf • Other detailsRead More
A non-disclosure agreement is extremely important to a business. Once signed, it legally prevents the other party from revealing company secrets.Read More
An affidavit is a written statement that is confirmed either by an oath or an affirmation within the document. Affidavits are commonly used in legal disputes.Read More
A release of liability offers protections to businesses where customers can sustain injury, such as extreme sports facilities providers. It means that customers enjoy activities at their own risk.Read More