Power of Attorney
Welcome to Cheri's Notaries, your go-to source for understanding the ins and outs of Power of Attorney in California.
In essence, a power of attorney agreement is your tool when you require a trusted third party to officially execute specific tasks on your behalf. Whether for estate planning or other purposes, this document provides written directives outlining duties and the expiration of authorization.
Let's break it down. If you stop reading here, you've got the basics of what a Power of Attorney Document is.
Types of POA:
The type of transaction determines the POA form needed. The General Power of Attorney grants broad privileges, allowing agents to perform a wide range of actions. Conversely, the Limited (Special) Power of Attorney imposes limits on certain duties and privileges that cease once completed.
In every POA, five key individuals play roles:
The Principal creates the document.
The Agent carries out duties on behalf of the Principal.
A notary public attests to the accuracy of the data, and the document is signed with two unrelated witnesses to the Principal.
The notary signs the document and attaches the notary seal. The Agent, at least 18 years old, is chosen based on trust, given the sensitive nature of the entrusted information.
Commonly used, the Limited Power of Attorney form grants specific privileges to the Agent until tasks are completed.
This form gives the Agent comprehensive power to perform any task that the Principal can.
Similar to General POA, but the Agent's responsibility ends only upon the Principal's passing or revocation of the document.
Also known as an Advance Healthcare Directive, this form empowers agents to communicate with healthcare providers and make medical decisions based on the Principal's instructions.
A Principal can revoke POA privileges using the Revocation of Powers form, which, if needed in court, should be filed accordingly.
DIY POA Forms:
While legal assistance is not mandatory, it can be beneficial. Office supply stores and online platforms offer formatted POA forms. Writing your own is acceptable but having a lawyer review it ensures legal accuracy.
Considering the Agent:
Be cautious of potential power of attorney abuse. California has protective measures against fraudulent actions. Guidelines for choosing an Agent include considering professionals like accountants, lawyers, or family members, and being cautious of titles like asset managers or investment advisers.
In conclusion, your POA should be specific, restrictive, and reviewed by a lawyer before signing.
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