A power of attorney can be an incredible tool and is actually quite easy to obtain. However, when it comes time to think about appointing someone as your attorney in fact, it is important to consider which type of power of attorney should be obtained. Giving another person the power to conduct significant business matters, financial matters, or authorize any other important decision should not be taken lightly. If someone who is untrustworthy is appointed power of attorney, there could be serious problems.
As a result, if you need a power of attorney for a specific situation, you may want to consider obtaining a special power of attorney. For example, if you’re buying a house with your significant other but they are unable to be at the closing day, a special power of attorney can allow you to sign on their behalf. They may have to conduct an “alive and well” check with the person to make sure they are aware of and approve of the transaction.
A general power of attorney is great for married couples who are frequently apart because of one spouse’s career but still need to get things done. This allows one person to sign off on literally anything on behalf of the other party, which as mentioned, can be dangerous if this power is given to the wrong person.
If you have questions about power of attorney, contact our firm today.
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.