Powers of attorney (POA) are key documents to many estate plans. There are various different categories of power of attorney in Manalapan Township for you to consider when creating your estate plan. You will want to understand the duties of the power of attorney, when the power of attorney will go into effect, and any limitations on each type.

Assistance from an experienced power of attorney lawyer may help you determine which power of attorney is appropriate for your situation and goals. Schedule your free consultation to get started on your estate planning journey.

What Is a POA?

A POA is a legal document that authorizes one person to act on another’s behalf. The person giving the power and executing the document is the “principal.” The authorized person is the “agent.”

An agent’s primary duty is to act in the principal’s best interest. The specific duties of the agent and when these powers go into effect will depend on the type of power of attorney and the terms of the POA.

A POA is only in effect during the principal’s life. This means that the agent’s powers end at the time of the principal’s passing.

A lawyer in Manalapan Township could help you determine which type of power of attorney best suits your situation.

Categories of Power of Attorney

There are several different POA categories in Manalapan Township. These categories include:

  • Durable
  • Limited
  • Springing
  • General
  • Healthcare

Before choosing an agent, a principal will want to understand each of these broad categories.

General Power of Attorney

A general POA gives the agent control of financial, business, real estate, and legal affairs. The agent typically has the power to manage the principal’s bank accounts, pay their bills, and handle legal matters.

Healthcare Power of Attorney

A healthcare POA in Manalapan Township allows the agent to make medical decisions for the principal in the event the principal is unable to make those decisions. This is also called advance directives or a medical power of attorney. The POA document will name an agent and express the principal’s specific wishes.

Durable Power of Attorney

A durable POA is active from the time of execution. This means the POA will remain effective even when the principal becomes incapacitated. A durable power of attorney is the most common type of POA.

Limited Power of Attorney

A limited POA gives the agent limited powers over specific tasks or at a specific time. This can be a valuable tool for people who are unable to manage their affairs during a limited period of time. Examples of this category of POA would be for Manalapan Township soldiers serving overseas or if a person is taking an extended trip abroad.

Springing Power of Attorney

A springing POA is only active when a specific event occurs, typically incapacitation. The springing power of attorney presents specific challenges because the agent may need to provide proof of incapacity. Moreover, a medical provider may need to certify the principal’s incapacity.

Understanding the categories of power of attorney is essential at the time a principal appoints an agent. The principal will want to understand the agent’s powers and when those powers will go into effect.

A lawyer in Manalapan Township could help you navigate these categories and choose the right power of attorney for your needs.

Schedule a Consultation with a Manalapan Township Estate Planning Lawyer

If you need help understanding estate plans and power of attorney options, an experienced lawyer could help. At Nesevich Law, LLC, we offer skilled legal services, helping our clients make informed decisions about their estate plan.

There are several categories of power of attorney in Manalapan Township to consider when making an estate plan. With the guidance and support of our POA attorneys, you can explore your options and determine the best fit for your needs. Schedule a free consultation to learn more.