Estate owners need a power of attorney under certain conditions. The most common conditions occur when they become incapacitated or are deployed to a war zone. The following are FAQs about these assignments answered by a Power Of Attorney Lawyer in Scottsdale AZ.
What is a Power of Attorney Exactly?
It is a legal document that provides an individual with specific rights and is authorized by an estate owner. It provides the identified individual with the right to act on behalf of the owner. The assignment enforces certain provisions determined by the estate owner. It gives the individual access to the owner’s assets and property.
When is the Power of Attorney Valid?
The power of attorney is valid as soon as the estate owner signs it. This doesn’t imply that the identified individual has the authority to use it immediately. The conditions identified in the document define circumstances in which the individual gains this authority. In most instances, the estate owner must be incapacitated.
Does the Estate Owner Lose Their Rights?
No, the estate owner continues to make decisions for themselves. They retain all legal rights to their assets and property. They don’t lose any authority unless they are no longer mentally competent.
What Happens if the Power of Attorney is used Unethically?
The provisions of the power of attorney define restrictions that apply to assets and property. The individual cannot access funds in a bank account unless they are used for the estate owner’s expenses or personal requirements. They cannot give money to a third party. They don’t have the right to sell the estate owner’s properties or assets. To prevent any violation of the provisions, the estate owner needs a trustee to enforce their provisions.
Can the Estate Owner Revoke this Assignment?
Yes, they can modify the assignment at any time. However, they must maintain possession of the document. If the identified individual possesses the document, the estate owner cannot change it or revoke the assignment.
Estate owners need provisions to protect their assets. When they issue a power of attorney, they must follow specific steps to prevent any unethical actions. The provisions are enforced by another family member or trustee. Estate owners who need to hire a Power Of Attorney Lawyer can do so by contacting Braun Siler Kruzel PC directly or visiting their Facebook profile.