Durable Limited Power of Attorney for Financial

A financial power of attorney is a legal document that lets you appoint someone to manage your finances and property for you.

The person you name in your POA to make these decisions is often called your agent or attorney-in-fact.
Our professionals create a customized power of attorney from the information you provide!

What is a Durable Power of Attorney in California?

A durable power of attorney remains effective even if the grantor becomes mentally incapacitated. Key attributes include:

📚 Remains valid until death or revocation
📚 Two primary types:
🌤️ Finances and property
🌤️ Healthcare and medical decisions
📚 Grants broad decision-making authority
📚 Agent has ongoing responsibility over matters
📚 No need to renew over time

 

 

Limited Power of Attorney

A limited power of attorney confers narrow, restricted authority for a specific situation. Features of limited POAs:
 

 

 

📚 Intended for single transactions
📚 Specific Real estate closings
📚 Defined legal proceedings
📚 Limited healthcare consent
📚 Short-term financial management
📚 Strictly limited agent powers
📚 Clearly defined expiration

Creating a POA

Steps to properly create a power of attorney:

📚 Determine scope of authority needed
📚 Formally name trusted agent
📚 Draft POA document outlining powers
📚 Review limitations to prevent abuse
📚 Consult attorney for state laws, rights
📚 Formally execute POA before witnesses
📚 Record/register POA as required

Protecting the Principal

Principals granting authority should consider:

📚 Ongoing agent communication
📚 Process for revoking POA
📚 Requiring multiple agents
📚 Adding expiration provisions
📚 Requiring regular accountings

With appropriate provisions, powers of attorney facilitate legal decision making for healthcare and finances during incapacity while reducing risks of abuse.