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2 result(s) displayed (1 - 2):

November 07, 2011

General Power of Attorney

General power of attorney references a legal document that allows one person to engage in a myriad of personal and business financial transactions. It provides broad sweeping powers that essentially allow the agent to conduct nearly any type of activity for an extended period of time.

The person writing the general power of attorney is known as the Principal. They can only authorize their agent to engage in transactions related to property they personally own or to make decisions on their behalf.

Agents are referred to as the attorney-in-fact. This doesn't mean the person has to be a lawyer. Instead, it refers to the authorization they have to engage in transactions that have legal ramifications. For example, agents could apply for financing to buy a house in the Principal's name.

Real Estate Investing article on "General Power of Attorney"

October 25, 2011

Medical Power of Attorney

A medical power of attorney form is required when someone wants to let another person make decisions about their healthcare should they become incompetent. The person charged with this responsibility is designated in the POA form as the attorney-in-fact, but this does not mean they have to be a lawyer.

It's smart to establish medical power of attorney regardless of current health status. Unfortunately, no one knows when an expected illness or tragedy will strike and leave them unable to communicate.

It's also smart to execute this document prior to surgery or other types of invasive medical procedures. This type of power of attorney lets a person provide written directives regarding medical treatments, procedures, and services that they do not want to have.

Real Estate Investing article on "Medical Power of Attorney "