A Power of Attorney (POA) can be Vital in Planning Your Estate
Whether you are in California, Texas, Colorado, or another state, a Power of Attorney can be a vital part of any Estate Plan. Whether you are traveling, feeling ill, or just being cautious, choosing the right POA, Power of Attorney may be important for you. More information about the Power of Attorney may be found in the California Probate Code Section 4401 and the California Healthcare POA is found in section 4701 of that same Probate Code.
What is a Financial POA?
Also known as a California Power of Attorney or a Financial Power of Attorney.
This document, prepared by LDA Document Services, may help you in the event that you become incapacitated, temporarily or permanently. It allows another person to take care of your legal and financial matters.
The “Principal” is the person requesting the POA and the “AIF or Attorney-In-Fact” is the person that is going to help the Principal.
What is a Medical POA?
This may also be known as a Health Care Power of Attorney.
The Medical Power of Attorney, prepared by LDA Document Services, allows another person the ability to talk with your medical providers. Whether it is temporary or regarding end-of-life instructions, this document may also be vital to ensure your wishes are carried out. This document is typically accompanied by a HIPPA release for the person of your choosing.
At LDA Document Services, we recognize that there are many types of POA.
The General POA, the Healthcare POA, the Durable POA, the Springing POA, and the Limited POA.
The General POA is just as it sounds. It is general and allows the AIF the ability to help the Principal in a variety of ways. However, in California, you may be required to get a very specific POA for Real Estate Transactions through a Title Company.
The Healthcare POA is used to help a person with their health. Your AIF will be able to help with your predetermined healthcare options and ensure that your wishes are carried out. This POA is typically accompanied by a HIPPA waiver/release for that same person.
A Durable POA is strong or durable, in that it starts the moment you sign it and stays in effect until you revoke or destroy it.
The Springing POA does just that, it springs into action only when you need it. It may only be needed during certain situations or under certain circumstances and after the conclusion of those events, it goes back from whence it came.
The Limited POA is sometimes called a Specific POA. This POA allows the AIF to act on your behalf only in certain circumstances, with very specific and limited powers. If the Principal is going to be in another country for a period of time, and he knows that some business deals need to be concluded, he may ask the AIF to complete those deals. This Limited or Specific POA, completed through LDA Document Services, may help the Principal assign those powers to his AIF.
Contact LDA Document Services today for any of your California estate planning needs! We are an affordable, efficient provider of services which are compliant with all existing State of California regulations.