A Power of Attorney is a legal agreement in which the principal ("non-incapacitated" person) gives authority to the agent or attorney-in-fact to act in place of the principal. The agent will have the power to open bank accounts in your name, bring suits in your name, and can sign legal documents for you among other things. As soon as the power of attorney agreement is signed it is "executed", or legally binding. A power of attorney form is no longer legal upon death of the principal or upon revocation of the agreement.
Creating A Power Of Attorney Agreement can be very inexpensive if done yourself. A power of attorney agreement must be in writing, and the principal executing the power of attorney must have the legal capacity. Most states do require the agreement be notarized or witnessed.
Revocation of a Power Of Attorney must be done by the principal, he/she must not be incapacitated and he/she must put the revocation in writing. Then a copy of the written notice of the revocation should be sent to whomever it interests.
The great thing about a power of attorney form is that its really simple, straightforward and an easy way to convey power to an agent. Executing a power of attorney form could cost you as little as ten dollars while giving someone guardianship requires you to pay court fees. You can also use a power of attorney agreement to protect the rights of the principal.
One disadvantage a power of attorney form may be to you, is that it becomes effective immediately after it is executed.
What is a Partnership Agreement?
A partnership agreement is a legal form, which outlines and governs how a partnership will be managed. Having one will prevent any disagreements later on down the road by clearly outlining each person's responsibilities and objectives.
How to Get a Durable Power of Attorney
A durable power of attorney is a document that is used as a legal way to appoint some one to act on your behalf if you become incapacitated. To get one you can go down to your county's courthouse and pay a 'print fee' for a copy for one. An even easier way to get one though is by going online and finding a durable POA form you can fill out at home on your PC then print out yourself; theirs many sites out there that offer these kind of fillable forms.
Legal Partnership Agreements
A legal partnership agreement is a documented, signed, and notarized agreement between two or more people or entities such as a business. A lawyer is not required to create this document; many people even feel it’s a complete waste of money to pay one. The truth is that any one can easily create their legal partnership agreement inexpensively on their own.
