power of attorney

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Related to powers of attorney: Enduring Power of Attorney

power of attorney

The formal or legal document which allows one person to manage the affairs—or specific aspects of the affairs—of another. Power of attorney begins when a person has a physical illness or accident, and that person wants someone else to enter into management of his or her affairs. A standard power of attorney should not be used if the individual has been diagnosed with, or is likely to develop, mental illness or degenerative disease which can lead to mental incapacity, as an ordinary power of attorney automatically ends with loss of mental capacity.

power of attorney

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POA

A legal document by which a person identifies someone to make financial decisions if he or she is unable to perform this task independently.
See: power of attorney, durable, for health care
References in periodicals archive ?
Much of Emanuel's expostulation against powers of attorney depends on his assumption that patients' agents should try to make the decision patients themselves would have made.
Thus, you should advise your client to establish two durable powers of attorney, one for health care and the other for property and financial affairs.
"It is now up to the legal industry to work together to highlight the importance of powers of attorney, and to ensure the serious benefits of these documents are communicated with urgency."
7 Tribunal To Deal With Enduring Powers Of Attorney
The case law relating to powers of attorney, which consists mainly of civil property disputes, recognizes that all transactions involving powers of attorney should be carefully scrutinized to determine if holders acted for the benefit of conveyors or whether exploitation occurred.(3) Unfortunately, no statutes exist that regulate power of attorney transactions in an effort to eliminate fraud.
Call for your FREE guide to Wills & Powers of Attorney 0808 208 5419 Lines open Mon to Thu 9.00am-7.00pm &Fri 9.00am-5.30pm.
Unlike the Personal Directives Act, the Powers of Attorney Act does not define the capacity required to make decisions relating to financial matters.
A: Your father is entirely right to appoint an attorney and he should do so under the Enduring Powers of Attorney Act which enables the power of attorney to continue even if he becomes unable to manage his own affairs.
We continue to report on disputes concerning whether gifts made pursuant to durable powers of attorney are valid and result in exclusion from decedents' estates.(33) In Ridenour,(34) the power of attorney did not expressly authorize gifts.
Previously, different forms were needed to provide individuals with powers of attorney. Form 2848, "Power of Attorney and Declaration of Representative," was used to appoint CPAS, lawyers and enrolled agents; a taxpayer that wished to appoint someone else for representation (that is, an unenrolled return preparer) was required to file Form 2848-D, "Tax Information Authorization and Declaration of Representative." Form 2848-D was also to be used to authorize any person to receive and/or inspect confidential return information.)