06 Dec. 22
Power of Attorney (POA) Agreements in Godfrey, IL
Power of Attorney (POA) agreements are legal documents that give people to ability to choose the right persons to make important decisions for them. This gives people in Godfrey, IL who are unable to make decisions by themselves power over any necessary medical or financial decisions. These are not the only decisions that a POA agreement can cover as it also covers legal and personal matters as well. Here we are going to explain more information about power of attorney agreements.
General Power of Attorney
General POA agreements give the person the authority to choose an agent who will make decisions on their behalf in any situation permitted by the law. Decisions made will involve health, legal, financial, and business matters. These powers can also be limited to only allow for certain activities. The powers of the agent are limited. For an example, an agent is not permitted to change the Will of their person.
Durable Power of Attorney
In a durable POA agreement, the agent will continue to act on their person’s behalf in the event the person is unable to make any decisions on their own at all. In Godfrey, Illinois, it is required that a Durable Power of Attorney needs to follow the statutory form. The person will need to explicitly state in a document that they want the POA to be durable. This will help clear up any confusion legally down the road.
Financial Power of Attorney
Financial POA will do what the General POA does, but it gives the agent exclusive financial decisions. The document is written to state that the agent has the authority to invest, sell property, take out loans, and other financial decisions.
Springing Power of Attorney
Springing POA means that the agent will only be able to act on the person’s behalf whenever a condition is met. The event or condition can be something like the person being unable to act independently. Once the condition is met, the agent will take control of the decision-making.
If you are looking for an attorney who can help you set up a Power of Attorney agreement in Godfrey, IL, give our team of experts over at Diaz Law Offices a call today! Our team is experienced in estate planning.