A power of attorney can be created without legal assistance and almost free of charge. In fact, one can find a free POA form online and simply print it out and fill it out. A California POA can only be created by a director who is 18 years of age or older. The principal must also have the legal capacity to enter into a contract.
A general or limited POA must be signed by the principal and two witnesses or a notary. Attorneys charge different fees for power of attorney. If you want to hire an attorney, a financial power of attorney could cost up to a few hundred dollars. A durable financial power of attorney can prevent a financial disaster in case you become incapacitated.
Your state's website or bar association may offer free power of attorney agreements that you can complete. An attorney can help you decide which of the different types of power of attorney best suits your particular needs and circumstances. There are specific actions that an agent can never perform regardless of the type of power of attorney that is executed. You can use the Power of Attorney for Health Care to designate an agent to make health care decisions for you.
A financial power of attorney is a legal document that allows you to give another person legal authority to make decisions about your money when you cannot make them yourself. It is important to get legal advice and guidance before signing a power of attorney document from an estate planning law firm. This power of attorney allows you to give another adult the authority to temporarily care for your child if they need to be out of town for a significant amount of time. Please note that you may not be able to customize the power of attorney forms you find online, and they may be limited in what they include.
Power of Attorney is essential in case you are incapacitated or not physically present to make decisions on your own behalf. Before you think about creating a financial power of attorney, you need to decide who will be your agent and what powers you want to grant you. The de facto agent may make decisions on behalf of the principal in the areas of property, finance or medical decisions, depending on the permissions of the power of attorney. If you want someone to make financial decisions for you while you are incapacitated or unable to make them yourself, you will need to create a financial power of attorney.
When you create a POA, you are called the principal and the person you choose to act on your behalf is called your de facto agent or agent.