A Power of Attorney is a notarized document where a person, called the principal, gives another one, called the agent (or attorney in fact), the power and authority to act on his/her behalf. In California financial power of attorney and medical power of attorney are separate documents. In some other States they are combined into one. At The Document People, we can help you figure out which is the right legal document for your particular needs.
One of the decisions to make when drafting a financial power of attorney is whether to have it effective immediately, or only in the event of incapacitation.
This is an important difference. Typically older customers choose to have their power of attorneys effective immediately, because it might be hard for them to get around, and if they have adult children, or trusted friends. Another common scenario is the one of spouses who travels a lot for business, or are deployed overseas.
The incapacitation of a principal is determined usually by two doctors. Sometimes, in cases of elderly people, it’s hard to establish whether a person is fully capable of understanding, or he/she is simply having a hard time because of Alzheimer or medications. That’s why often time elderly people choose to give their loved one the power to make financial decisions for them effective immediately (meaning from the day the document is signed) – to unburden them from the necessity to prove incapacitation.
We will help you with your legal documents and preparation no matter what circumstances you are faced with. The Document People is a network of independent legal document assistants. We are here to make all your legal document preparation quick and painless. In all locations financial power of attorneys and medical directives or living wills are are offered for a flat fee. Visit our stores in Los Angeles County (Woodland Hills, Santa Monica, San Fernando, Van Nuys, Glendale,), Orange County (Anaheim, Irvine) San Diego County (Oceanside) and the Central Coast, as “The Justice People”, covering the Nipomo, Santa Maria, San Luis Obispo areas.
The information contained in this blog – including information of a legal nature – is provided for informational purposes only, and should not be construed as legal advice on any subject matter.