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A power of attorney is a legal document that gives someone else the authority to act on your behalf. This can be helpful in a number of situations, such as if you are unable to manage your own affairs or if you need someone to handle financial matters for you. There are two main types of POA documents - Durable Power of Attorney and Springing Power of Attorney. Read and know about the same, before you take a decision to appoint someone for the management of your affairs.

Durable and Springing Power of Attorneys - What are These Documents?

There are two types of power of attorney: Durable and Springing. You can get power of attorney forms in NY of both types from the internet, and use them for your own requirements after some amount of customization.

a) Durable Power of Attorney - A Durable Power of Attorney is a legal document that gives someone else the authority to make decisions on your behalf. This type of power of attorney is one that remains in effect even if the person who grants it becomes incapacitated. It can be used in a number of situations, such as if you become incapacitated or unable to make decisions yourself.

b) Springing Power of Attorney - On the contrary, a Springing Power of Attorney only goes into effect if the person becomes incapacitated. A springing power of attorney is similar to a durable power of attorney form, but only goes into effect under certain conditions. For example, if you become unable to perform or carry out normal functions due to some reason or the other, someone else who you may have given the authority to manage your affairs upon your state of inability, will take charge.

Thus, in case of a durable power of attorney, whether or not you are incapacitated, the appointed agent or attorney-in-fact will manage your affairs. It can include the management of your finances, legal affairs, children, estate etc or something else, such as business activities. However, in the event of a springing power of attorney, an attorney-in-fact will start managing your affairs only when you are unable to do so.

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Carl writes often about legal drafting, rental lease agreements, power of attorney form sand help the people in such needs.

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