POWERS OF ATTORNEY
A power of attorney (POA) is a legal document giving one person the power to act for another person in regard to property, finances, or medical care.
A POA document states a person or organization you name to act on your behalf in regard to handling transactions when you are out of the country or physically and or mentally incapable. There are two types of POA’s; durable POA and non-durable POA.
Non-durable POA: Grant someone the power to close on real estate in your name if you are out of the country.
Durable POA: Grant someone the power to make financial decisions on your behalf even if you become mentally or physically incompetent.
WHY YOU NEED A POWER OF ATTORNEY
The power of attorney mitigates long-term stress in the event of illness or disability, or when you cannot be physically present to sign necessary legal documents. Attaining a power of attorney helps prevent any costs, delays, and emotional distress.
In the case where you choose not to opt for a power of attorney, the court will automatically appoint a guardian who may not be in line with your wishes. Unlike a court-appointed guardian, if you attain a power of attorney, all activities between you and the power of attorney are confidential and will not be accessible to the public.
Prevent future distress and contact our trusted team at Pace Law firm real estate lawyers to attain a durable or non-durable POA today.