Today, estate owners in California can write powers of attorney with ease. Whether through a downloadable form or attorney, writing up your POA is the easiest step. The difficult step is in deciding on how a power of attorney will be used. Whether granting financial or medical authority, you need specific forms to achieve your end. Though having an attorney write yours is helpful, it’s not required by law. Your agent, however, has to be qualified and mentally stable.
What is a power of attorney?
A power of attorney is the legal authority given to an individual to take action on your behalf. These contracts consist of an agent who receives authority and a grantor who gives authority. In a business, an agent takes action without consulting anyone. Many powers of attorney, however, are for emergencies. Should you become incapacitated, missing or ill, the clauses of your power of attorney can go into effect.
Why get one?
When estate planning, a power of attorney gives you ways of protecting your wealth and health. No one can determine the exact outcome of future events. In the event that things go wrong, an agent, being handpicked, can act on your immediate behalf. In some cases, a POA remains constantly active while you travel. Should you lose consciousness, the legal status of your POA is still honored as the agent then becomes active.
Estate planning in California
Due to the risks of undue influence, both the agent and the grantor must be mentally sound when writing up a POA. The ideal time to write a power of attorney is when you are creating or updating your estate plan.