Georgia Power of Attorney
Atlanta Health Care Power of Attorney
Power of Attorney in Georgia
A power of attorney is a legal document that gives one person, called the agent or attorney-in-fact, the legal authority to act on another's behalf, called the grantor or principal. The power of attorney can be broad and, thus, unlimited in scope and duration thereby permitting the agent to make legal decisions about the principal's property and finances. Alternatively, the power of attorney may be limited to one activity, such as the power to engage in financial transactions from a specific checking account, or to sign the closing documents for a specific real estate transaction.
- Durable Power of Attorney: a power of attorney that takes effect if the principal becomes incompetent or unable to manage his/her own affairs. A durable power of attorney can be used to address issues regarding who will make health care decisions for the principal or who will make financial decisions for the principal. A durable power of attorney remains valid until the principal dies or revokes the document.
- General Power of Attorney: a power of attorney that authorizes the principal to conduct the business of the principal.
- Special Power of Attorney: a power of attorney that limits the power of the principal to carrying out one specified transaction.
A power of attorney may take effect immediately or upon the occurrence of a future event. Most frequently the power of attorney is used when the principal is ill or disabled or when the principal is unable to be present to sign necessary legal documents for financial transactions.
If an individual does not have a power of attorney and becomes unable to manage his or her affairs, the court may appoint a guardian to act on this individual's behalf.
A power of attorney can be a very useful tool as it can ensure that someone looks after your financial affairs in the event you become incapacitated. A trusted family member, friend or professional may be selected as an agent in a power of attorney. However, we recommend consulting with a lawyer before creating a power of attorney. It is imperative that these documents are executed with great caution since it is very much like signing a blank check.