General procuration allows a lawyer, such as an estate planning
attorney, or a trusted relation to legally handle your affairs either
out of convenience or medical necessity. Read on to learn more.
As its name suggests, general procuration (General Power of Attorney)
permits your agent to perform a variety of acts such as paying bills,
managing your business and personal affairs, as well as estate planning.
An Attorney or family member is often appointed, depending on the
individual's preferences and personal situation. There are several
reasons to relinquish power of attorney to a lawyer or a trusted
relation, but one of the most common reasons is convenience. General
procuration gives an individual the freedom to travel, relocate, or
focus on other responsibilities while having a capable person handle
necessary affairs in their absence or stead. You simply supply the
instructions to your agent who then has the power to legally perform the
tasks required.
A protection that you may want from your general procuration is the
"disability clause". This clause provides that the general procuration
goes into effect only when your general physician certifies that you are
unable to handle your affairs. This certification is an affidavit
signed by the doctor in front of a notary. This limits the use of the
power of attorney until a time when your general physician agrees that
you are unable to handle your affairs. This can be temporary or continue
onto your passing away, in which case an estate planning attorney is
often assigned the role as agent. Remember, if and when you regain your
abilities, you will once again regain control after proper legal process
is followed. Be aware that the general procuration does not include
making health care decisions. That power is granted in a Special Limited
Medical Power of Attorney.
Americans are living longer these days and are at more risk for times of
incapacity. The time to protect yourself is now while you are still of
sound mind, so you can specify how you would like your business and
personal issues handled in case there is a time when you are not able to
deal with those matters. In these cases, it is common to appoint your
estate planning attorney as your agent.
There are many benefits to choosing a qualified professional over a
personal relation such as a family member. While you may trust a family
and friend, often times they are not equipped to handle the complexities
of tasks such as amending wills and monitoring trust funds. Improperly
prepared wills or financial gifts can lead to heavy taxes and
inappropriately distributed funds, which can be potentially devastating
to your loved ones. An estate planning attorney has the necessary skills
as well as your best interest in mind, as they have no personal or
emotional investment in how your affairs are to be handled.
If you are considering appointing an agent for general procuration,
carefully review your options and discuss the details with a qualified
lawyer, such as an estate planning attorney. They can help guide you in
the right direction and ensure that you have all of the information you
need to appoint an agent that will best serve your needs.
