Benefit to a Simple Power of Attorney
A simple power of attorney provides you with peace of mind that simple transactions will be handled should you become unable. With a simple power of attorney, you can make the terms non-durable or durable.
Durable vs. Non-Durable Simple Power of Attorneys
A durable power of attorney remains in effect should you become incapacitated. With a non-durable power of attorney, it ends if you are incapacitated in any way.
Non-durable power of attorney forms are used most often when you only want to give someone temporary permission to handle your affairs. They are extremely useful when you are going on vacation or taking an extended business trip. Durable power of attorney contracts are best when you want someone to handle your finances if you become mentally or physically unable to handle them alone. Things that can cause you to become incapacitated include:
· Alzheimer's disease
· Cancer treatments
· Heart attack
· Mental hospitalization
Setting Up a Simple Power of Attorney
With a simple power of attorney, you are able to limit the duties the power of attorney agent holds. A simple power of attorney can be used to give your spouse authority to make necessary health care decisions for them, or you can use a living will to make your health care directives clear to doctors and medical staff.
A simple power of attorney can be used to instruct someone how and when to pay bills you've accrued. You can also use it to provide instructions and authority for another to handle a car sale or a real estate transaction following your specific instructions.
A lawyer will draft a simple power of attorney to fit your needs. Alternately, you can use online templates to create your own legal power of attorney paperwork. It is important to bring the power of attorney with you to a notary public and sign in their office. This legalizes the form.
Changing a Simple Power of Attorney
If you even decide to change your simple power of attorney, make sure you tear up old forms. Notify everyone affected by the switch and then create new forms.