A continuous power of attorney - Why and What? Featured
A continuous power of attorney is a legal document that gives someone the authority to make financial and legal decisions on behalf of another person. A power of attorney can be continuous, which means that it remains in effect until it is revoked or the person who granted the power dies, or it can be limited to a specific period or event. The person granting a power of attorney is called the principal, and the person receiving the power is called the attorney-in-fact.
Continuous powers of attorney are often used when a person becomes incapacitated and cannot manage their own financial and legal affairs. They can also be used to give someone the authority to manage the affairs of a business or organization. Choosing an attorney-in-fact carefully and ensuring that the person is trustworthy and competent to handle the roles responsibilities.
Why does it important?
A continuous power of attorney is an important legal tool that can help ensure that your financial and legal affairs are managed in a way that is consistent with your wishes, even if you are unable to manage them yourself. It can be particularly useful if you become incapacitated due to an illness, injury, or other circumstance that prevents you from making decisions on your own.
By granting a continuous power of attorney to someone you trust, you can have confidence that your financial and legal affairs will be handled in a way that is in your best interests. This can provide peace of mind and help protect your assets and financial interests. It can also help prevent disputes or conflicts among family members or other interested parties over managing your affairs.
It is important to note that a continuous power of attorney does not take effect unless and until you become incapacitated. You will still be able to manage your affairs as long as you can do so.
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