Carl Glendon

Why Is A Lasting Power Of Attorney Needed?

'Lasting Power of Attorney' is the name that is given to a type of document that has legal significance, and lets an individual appoint anyone who can be relied on to take important decisions on his behalf. Such decisions might be about property, finances or welfare. The agent or "attorney in fact" who is appointed may take decisions on the behalf of grantors when the latter are unable to decide anymore due to mental or physical infirmity. This document may not be used until the Office of the Public Guardian registers it. Find out when a Lasting POA is needed.

To ensure safekeeping of property

When you give authority to an agent with the help of an enduring Power of Attorney, you can give him or her powers to look after your own property when you cannot do that anymore. You can often grant a Lasting POA to anyone when you are writing your Will, although that should not always and necessarily be the case. You may grant this authority to anyone at anytime you want.

To sort put financial affairs

This type of power of attorney form can give permission to people to sort out their financial and property affairs in case and when they are unable to do that on their own. In other words, if you fall ill, get physically or mentally incapacitated and become unable to make your own bill payments, sort your own financial affairs out, collect your benefits / pension etc, you will need this kind of legal document to designate a person to authorize an agent to look after your financial matters.

To avoid complications

In the absence of this kind of document, you are going to land in various complications. Rather than having nearest friends or loved ones come to your help, a deputy will be appointed by the Court Of Protection and he / she will have power over your assets. This can be directly against your interests if you would want a person you deem as reliable to handle your assets. It is a good idea to make a Lasting POA while you are still well and fit.

Author Resource:-

Carl writes often about legal drafting, rental lease agreements, power of attorney form sand help the people in such needs. To learn more about drafting a power of attorney form in New York and power of attorney in Indiana, visit this website.