Power of attorney is, in its most simplistic form, a document that allows an individual to choose a person or “agent” to help them make some of the above decisions should they ever become incapacitated and incapable of doing so. This agent who is given power of attorney will be expected to put the person who assigned the power of attorney or the “principal’s” interests before their own. However, they may not always do that. That’s why it’s imperative to assign power of attorney to someone that you and your family really trust to always do the right thing for the family unit and the principal in question.
When choosing to pursue a power of attorney agreement, you’ll also need to determine what kind of power of attorney you’ll be granting them. Currently, there are four different types of power of attorney that you can grant: general power of attorney, durable power of attorney, special or limited power of attorney, and springing durable power of attorney. Each of these has their own express advantages and, depending on your needs, will need to be crafted to suit your future requirements and vision for this power of attorney agreement.
Reach out to Self Legal Group in Oklahoma City to get started on your power of attorney plan today.
