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A durable power of attorney can be the most important legal instrument an individual executes. It can provide a tool for preserving as much as possible the autonomy of a mentally impaired adult, allow a trusted agent to carry out financial transactions that the individual would if he or she was legally able, and avoid the trauma and expense of conservatorship or plenary guardianship proceedings.
The attorneys at Hettinger & Hettinger P.C., realize that both the client and the attorney must pay careful attention to the specific provisions included in any durable power of attorney. Both attorney and client must work together in determining which person or entity would be an appropriate choice for the role of attorney-in-fact and what the scope will be of the powers granted. Attorney and client must consider how to ensure that the durable power of attorney will be used only for its intended purposes.
There are different types of power of attorney. The financial power of attorney allows one individual, the "principle", to authorize one or more other people to take legally binding actions on behalf of the principal. A power of attorney therefore authorizes the grantee, known as the "attorney-in-fact" or "agent", to act with respect to the subject transaction as if the agent were the principle. This power may be limited to one specific action, a special power of attorney, or it can authorize almost any transaction that could be undertaken by the principal acting on his own behalf.
When a person is now incapacitated, and failed to plan by executing a power of attorney, the court may step in. To ensure that your care is set up, and that you can be confident that you know how your affairs will be handled, it is wise to execute a power of attorney. Call Hettinger & Hettinger P.C. for help and advice in securing your future.