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Durable vs Medical Power of Attorney EXPLAINED

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After all, what other power do attorneys need than the legal ones, given to them when they became lawyers? What exactly is a power of attorney? Power of attorney does not refer to a power intrinsic to the lawyer or attorney. It is actually given to a person even if he or she is not a lawyer. Still, many of those who are given the power of attorney are lawyers, often family lawyers who are trusted to deal with a wide range of things. Financial abuse would include misusing the power of attorney, using the adult s money for other purposes, pressuring adults to sell their home or property, cashing out the adult s pension or cheque, or pressuring the adults to buy alcohol or drugs. Abuse of the power of attorney could be intended or a sign of negligence. A lot of people have wrong notions about powers of attorney. They think that only the elderly as well as those with massive assets are only the ones who must draft power-of-attorney forms. However, the need for POA is not limited only to these groups. Even younger people and those who have only a few assets may create powers of attorney. An agent or attorney-in-fact who handles your health care differs from a successor in a living trust. The agent is allowed to manage your finances while you are still alive, while a successor gains control of your assets only after your death. Illnesses can happen to anyone at anytime, so it is important to have a medical or a health care power of attorney while it is still early rather than to let your family members become confused about making decisions regarding your medical and health care. This also includes making the decision to pull the plug in cases when only a machine is keeping the principal alive. Some people are also given the power of attorney to take care of a principal s financial portfolio. Although this is well and good especially when you are so busy and want to put the business of investing your money to a professional. The agent should just follow your instructions or directions especially if you are still very much capable of making your own decisions. Thus, it is like you are just sharing your authority or power with another person. In the same way, you could instantly revoke the authority you gave your agent anytime you like especially if you think you are dissatisfied and are dubious about his or her performance of the duty you gave him/her. 

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