Power of Attorney, What Is It??

2/18/2010 9:37:40 AM #

Durable POA = power of attorney that remains in effect throughout the principal’s incompetency

General POA = power of attorney that authorizes an agent to transact business for the principal

Limited POA = power of attorney that grants an agent power only for a specified matter or purpose

Forms can be useful in the right circumstances, however, it is always advisable to draft your documents in accordance with your unique circumstances.

Please advise if you have any further questions.

Kim Orlando, Esq.
Minto Law Group, LLC
412-201-5525

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2/18/2010 9:38:23 AM #

There are many differences between Power of Attorney documents and they are definitely not all created equal.  
They can be durable, which means they will remain valid in the event someone becomes incapacitated or not durable, where they terminate upon someone’s incapacity.  
They can be limited, which means they are only for a specific purpose – banking, real estate etc. so that the agent can only use it to do that one thing.  
They can be springing, which means they are not immediately effective or become effective only upon the occurrence of some event.
Without knowing your situation, there is no way to determine which Power of Attorney is appropriate for what you want to use it for.  I would not recommend buying a Power of Attorney at an office supply store.  There are State specific requirements that must be fulfilled in order for the document to be accepted by Financial Institutions.  A Power of Attorney is not an extremely expensive document to get from an attorney, and by trying to save a couple hundred dollars now by doing it yourself, you can be exposing your family to having to pay thousands of dollars in legal fees and court costs should your Power of Attorney not be accepted and a court have to appoint a guardian on your behalf.

Should you have any additional questions, please contact Zacharia & Brown at 412-751-5670
Colleen D. Bratkovich, Esquire
Zacharia & Brown
Elder Law Attorneys
412-751-5670 (phone)

NOTHING IN THIS POSTING CREATES AN ATTORNEY-CLIENT RELATIONSHIP OR SHOULD BE CONSTRUED TO BE LEGAL ADVICE.  THE INFORMATION IS FOR GENERAL INFORMATIVE PURPOSES ONLY AND ZACHARIA & BROWN WILL NOT BE HELD LIABLE FOR THE CONTENT OF THIS POSTING.

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