[wp_ad_camp_1]Just the other month, I have had to make a Power of Attorney so that my sister can sign some documents at the bank while I was away on a business trip.  Such a convenience it was since those transactions going bad could have given me a bad financial record, not to mention a big headache as well.  I am now back and the Power of Attorney is already terminated.  This means that the power to perform all my banking transactions revert to me and my sister can no longer perform the same things on my account.

 

Reading Up On Power Of Attorney Documents

This experience has led me to think more about the different ways through which I can use this legal document.  I figured that once I know how to use the Power of Attorney in my personal affairs, I should consult with a lawyer to finalize everything and make sure that everything is legally binding.  In the meantime, I am reading up on the internet and downloading some forms including a Power of Attorney template that I can examine more closely.  Even if everything is not that difficult to understand, I would still want to consult with a legal professional so that any Power of Attorney I issue could not be contested and invalidated on account of legalities.

 

Power Of Attorney Template For Financial Transactions

Just as I had done with my sister, a Power of Attorney can be used for the purpose of having someone you trust perform specific transactions for you.  In a special limited Power of Attorney, the authority to act on your behalf is granted to your agent or attorney-in-fact for named tasks within a period of time.  Aside from scheduled transactions, this legal document is also used to authorize brokers and financial agents to make trading decisions on a principal’s account without his specific instructions on each trade.

 

Speak Up On Your Medical Treatment Preferences

power of attorney templateAnother use of the Power of Attorney template is for medical purposes.  This is usually done by people who have specific wishes as to how they would like to be cared for during their ailing years.  Those who have progressive and debilitating diseases find it best to execute such a Power of Attorney so that they will not be subjected to medical treatment that they do not wish to have.  While this document is often issued early on, usually before the onset of illness, they do not immediately take effect while the principal is still able to make and communicate his own medical decisions.  It is only upon the issuance of a medical certification or incompetency statement by his attending physician that his attorney-in-fact can assume the responsibility of making medical decisions.

 

Designate An Agent With A General Power Of Attorney Template

power of attorney templateA Power of Attorney template is also used for general purposes as when a business executive appoints the company lawyer or any other competent company executive to represent him in all business transactions.  This gives the attorney-in-fact a broader scope of duties to perform since a general Power of Attorney encompasses all the tasks the principal normally performs.  While all-encompassing, this kind of Power of Attorney is often limited by time or circumstances as the attorney-in-fact’s separation from the company or the principal’s resumption of normal duties and responsibilities.[wp_ad_camp_2]