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In What Situations General Power of Attorney Applies

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					                In What Situations General Power of Attorney Applies

You have to decide one or more of the following tasks that your attorney-in-fact will carry out on
your behalf from time to time:
- manage your properties
- preparing and filing income tax returns
- making decisions regarding health care
- do transactions at the bank and pay your bills
- handle your retirement and insurance benefits
- collect your social security benefits
- handle your legal claims
You have two options when deciding how much authority you are going to allow to your agent.
You can give either general or a limited power. The right choice depends on your needs and
preferences when it comes to managing your affairs.

What to Consider In Choosing an Attorney
Age
It is a basic factor in determining whether someone is fit to become your attorney. You must
choose a person who is a lot younger than you are since he or she can carry out the
responsibilities for a longer time compared to the older ones. Younger person is relatively
healthier then his older counterpart, so he can handle your asset without much hassle.
The person who can do the duties
Typically, elderly people appoint their eldest child as their agent. But how can they be so sure
that their child will be able to perform all the responsibilities? If you have more then one child, it
is better to divide the power of attorney among your children.
Trust
You must appoint a person to whom you trust most.
Comfort
You must be comfortable with your attorney in dealing any issue. On the process of drafting the
power of attorney document, you will have to discuss all the terms in it; therefore, it is important
that the agent won't be too much headache for you.
Amount of control
How much authority are you willing to grant to your agent in terms of decision making and
performing your tasks on your behalf? That is a crucial. You may opt for several limited powers
of attorney if you are not comfortable with the idea of giving your agent full control over your
assets and personal matters.
Legal requirements
A person must meet certain requirements according to the laws. For example, an agent should be
of sound mind to be able to make the right decision.
Does the person truly understand your feelings?
He should know you well so as to understand your own point of views and opinions.
Is the person easily available?
Appoint an agent who is easily accessible or available, so that you can contact him in case of
emergency.
Work experience.
It may be important to choose an agent that has some experience in finance or legal matters.
Can Donor place some Limitations?
The donor can place limits on what the attorney can do, and on the length of time for which the
power operates. So, for example, a donor might give an attorney power to:

1-manage the donor's financial affairs generally while they are abroad, until a given date
2-sell the donor's house, if the donor has already moved abroad and is not available to sign the
sale documents; or
3-do everything except sell the donor's house.

General Power of Attorney Form - Grievance Procedures And Non Disclosure Agreements .

				
DOCUMENT INFO
Description: You have to decide one or more of the following tasks that your attorney-in-fact will carry out on your behalf from time to time.