Power of Attorney aka POA is a known kind of document that declares a person appointed the other person to act and to behave on his behalf. Even though it is a familiar document, we may need to dig deeper and know more. The following are things we should know about POA.
#1. Grantor Capacity
Grantor is the person who executes power for an attorney. Grantor can make the execution while he is mentally capable to do it. The attorney then remains effective until grantor becomes incapacitated.
#2. It Can be Written and Oral
Power of attorney remains valid on written and oral form. Oral form commonly needs to be declared in front of the court. Meanwhile, several institutions like banks or hospitals require the written form.
#3. It Has Equal Dignity Rule
The authorization given to appointed person should be written when law requires the action to be documented in written form. This doesn’t only smoothen the action but also prevent crime against the contract in hold.
#4. Notarization and Signature Concept
Each state rules it differently. Several needs it to be witnessed, reviewed, and signed by notary. However, bringing in one or two witnesses and notary will be perfect and safe for signing.
#5. It Can Have Durable Provision
A person can appoint someone to do his or her affairs even when the grantor becomes incapacitated or dies. Such POA is often called as durable POA. It commonly runs on family.
#6. Health Care Needs Specific POA
A power of attorney for health importance on someone is often needed on specific illness and stages. It states that grantor gives a person the authority to make health decision. It is often provided by the health institution.
#7. Springing POA Can’t be Invoked Earlier
Someone can grant authority to someone as soon as he becomes incapacitated or under specific circumstance. Such power cannot be invoked earlier by anyone.
#8. The Valid Form
There will be parts to be included in POA. However, several institutions provide the standardized form for their clients. We can find the form on many resources but it will be wise to revise it, with lawyer if possible, as needed.
Now we know how POA should be and how we should be really careful about it. Appointing someone should be done wisely especially when he will be the attorney. POA should make things easier instead of complicate everything.