(Durable, Medical, General, Limited or Special)
Looking after a loved one requires a great deal of effort. You have to manage their medications, transport them to appointments, handle their daily activities, and complete their household chores. In addition to these, you might also need to handle their finances. Although you might never think about a time when you would have to take on everything for a loved one, there are legal implications that come into play. This is where a power of attorney comes into play.
What Is A Power of Attorney?
One of the most important legal documents that everyone needs to know is the power of attorney. It enables a principal to appoint someone to act on their behalf in case they are incapacitated. The agent would need to act in the best interests of the principal. It is due to this reason that it is necessary to choose someone whom you trust to be your agent. The agent would be responsible for making a variety of decisions which the principal would grant the agent the power to make as mentioned below.
- To make gifts of money
- To recommend a guardian
- To make financial decisions
- To make health-related decisions such as the ability to give, withhold, or stop medications
Types of Power of Attorney
There are four types of power of attorney that are available.
- General Power of Attorney
A general power of attorney is where an agent is given authority to perform just about every type of task on behalf of the principal such as managing personal finances, opening financial accounts, and collecting documents. Generally, it terminates when the principal passes away, revokes the power, or becomes incapacitated. - Limited or Special Power of Attorney
A limited or special power of attorney grants the agent specific powers that are limited to certain areas. For instance, a special power of attorney can permit the agent to sell a property on behalf of the principal. - Durable Power of Attorney
Another type of power of attorney is a durable power of attorney. It authorizes a person to act on behalf of the principal and contains a durable clause that ensures that the power of attorney remains enforceable if the principal becomes incapacitated. - Springing Power of Attorney
When a specific event takes place, a springing power of attorney becomes legally enforceable. For instance, if a principal becomes incapacitated, the springing power of attorney would allow the agent to act on his or her behalf.
When it comes to power of attorney, it is important that you discuss with your loved one to determine his or her healthcare and financial security options. You never know when a situation might arise where you would have to make decisions for them. Generally, it is advised that you discuss with an attorney which type of power of attorney to make.
How To Get A Power of Attorney Notarized?
A licensed notary public must be present when a power of attorney is being signed to ensure that it is legally binding. The notary public acts as a representative for the state government as he or she is responsible for the verification of the signer’s identity, acting as a witness to the signing, and making sure that the parties are signing under free will.
Unlike in the past where you had to look for a local notary and schedule a session with them, you can simply opt for an online notarization service such as Blue Notary to get the job done today. It will ensure that you have a pleasant experience. You can easily notarize your power of attorney using your laptop or smartphone. BlueNotary provides a quick and easy online notarization service. All you need to do is follow the steps mentioned below to use the service.
- Start a new online session with BlueNotary.
- Upload the relevant documents and proceed by verifying your identification. You will have to respond to questions relating to your identity. After your identification is verified, you would have to provide your identification documents such as a driver’s license.
- Next, you will need to attend the online session at the available slot that you have selected. The notary will ask you some questions and proceed by electronically signing the power of attorney. The notary will sign the document and place a notarial seal.
- After the notarization is complete, you can download the document and put it to good use.