WHAT IS A POWER OF ATTORNEY AND WHY WE NEED ONE

 Q1: What is a Power of Attorney (POA)?

Ans: A Power of Attorney is a "legal document" that gives someone you trust (called an "agent" or "attorney-in-fact") the authority to "act on your behalf" in legal, financial, medical, or personal matters. You (the "principal") decide how broad or limited that authority is.

 

Q2: Why would someone need a Power of Attorney?

Ans: A POA is essential if you become "incapacitated", disabled, or unavailable and need someone to:

* Pay your bills or manage your finances
* Make healthcare decisions
* Handle legal affairs
  It ensures your wishes are respected even if you're unable to express them yourself.

 

Q3: Are there different types of Power of Attorney?

Ans: Yes. Common types include:

"General POA" – Grants broad powers for financial or legal decisions.
"Limited (or Special) POA" – Restricts authority to specific tasks or time frames.
"Durable POA" – Remains valid if you become mentally incapacitated.
"Medical (or Healthcare) POA" – Allows your agent to make healthcare decisions.

 

Q4: When does a Power of Attorney become effective?

Ans: It depends on how it's written:

"Immediately" upon signing, or
"Springing POA" – Only becomes active under certain conditions, like a doctor declaring you mentally unfit.

 

Q5: Can I cancel or change a Power of Attorney?

Ans:Absolutely. As long as you’re mentally competent, you can "revoke or modify" your POA at any time. It’s recommended to do so "in writing" and notify all involved parties (e.g., your agent, banks, doctors).

 

If you have any questions, feel free to reach us at: pratikarlawfirm@gmail.com | www.pratikarlawfirm.com | Call: 7896823008