About Power of Attorney Legal Forms Software
What is the Power of Attorney Legal Forms software?
Have a Power of Attorney question?
Did you know that anybody can create a customized, fully legal Power of Attorney document in minutes?
This Legal Software package allows anyone to quickly and easily create a Power of Attorney document that is tailored to fit almost every personal situation. The software includes both a Limited Power of Attorney for specific personal situations or the more general Durable Power of Attorney to handle a broader range of issues. Plus a Revocation document to end the Power of Attorney relationship! Valid in all states once notarized. Complete details below...
POWER OF ATTORNEY LEGAL FORMS SOFTWARE
Sometimes in life, a situation arises where the mental or physical capacities of a person are reduced to the point where he, or she, can no longer be trusted to make rational decisions... age-related dementia or Alzheimer's, just to mention some better known conditions. Daily decisions for these individuals must be left in the hands of another trusted person.
Or a situation may occur where a person is unable to personally attend to a specific legal affair or piece of business, and wishes to have a designated representative handle the affair or transaction on his or her behalf.
In either case, what's needed is a legal document known as a Power of Attorney. A properly executed Power of Attorney allows one person to designate another to handle the business, financial and/or legal affairs of the person signing the form, either for a specific function or, depending on the particulars of the form, for overall day-to-day needs.
There are three types of Power of Attorney forms contained within the Standard Legal Software package:
Three Types of Power of Attorney
DURABLE POWER OF ATTORNEY
Used to permit a third party (an "attorney-in-fact") to conduct or engage in almost ANY FORM OR TYPE of business on the part of the signatory (i.e. person signing the form) - such as buying, selling or transferring property, signing documents, purchasing assets, opening bank accounts, buying stocks, etc., in the name of the person signing the form (and with money owned by the person signing this form). This document would be appropriate for individuals who do not wish to participate in such transactions or no longer desire to do the same (for example, but not limited to, elderly or disabled individuals who can no longer leave their residence to conduct certain business, or individuals that may be leaving the country for a lengthy period who desire someone to handle their business on their behalf).
I have often used these in the military, and, having lived in a military town, saw many used by spouses of service members serving in Iraq and Afghanistan.
LIMITED POWER OF ATTORNEY
Used to permit a third party ("attorney-in-fact") to conduct or engage in the specific business or transaction stated on the document on the part of the person signing the form.
This document differs from the Durable Power of Attorney in two ways:
1) The authority granted under this document is limited to the tasks, business, or transactions specifically stated in the document;
2) The authority granted under this document is also limited in time, i.e. if the action or business is not taken or engaged in by the date set forth on the document, the authority to do the same lapses. This document is appropriate for individuals who cannot take certain actions on their own, because they are unavailable to do so or to do so would result in some inconvenience.
REVOCATION OF POWER OF ATTORNEY
This document allows the user to end a Power of Attorney relationship, giving back to the maker (signatory) all legal authority to again handle the business and/or financial affairs that were previously assigned through the initial Power of Attorney action.
WARNING: THESE POWER OF ATTORNEY FORMS, DESPITE THEIR SEEMING SIMPLICITY ARE REALLY VERY POWERFUL LEGAL DOCUMENTS!
The person(s) named as as the maker's "attorney-in-fact" by a power of attorney (POA) will have the ability, once these documents are signed, witnessed, notarized, and provided to such person(s), to conduct the business, transaction or engage in the conduct outlined in the document. In short, these documents allow the persons named as attorney-in-fact to carry out the business of the person signing this document, the same way as if he or she could do it him or herself. The persons named as "attorney-in-fact" must be trustworthy and have the best interest of the person signing this document in mind, so this program and the resulting forms should be used with the utmost care.
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Do It Yourself Legal Forms Power Of Attorney Software
Page Updated 6:44 PM Saturday, February 10, 2024
Do It Yourself Legal Forms
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