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The principal decides the extent of authorization their agent has (e.g., durable POA), whereas, in guardianship, it’s the judge’s decision. Moreover, the judge may select a professional you ...
A power of attorney may be: special (also called limited), general, or temporary. A special power of attorney is one that is limited to a specified act or type of act. A general power of attorney is one that allows the agent to make all personal and business decisions [9] [10] A temporary power of attorney is one with a limited time frame. [11]
Once the donor has created a lasting power of attorney and it has been registered with the Office of the Public Guardian, it can be activated when required, allowing the attorneys to act on behalf of the donor, for example, paying the donor's bills, managing investments, and so on. However, in practice, this can prove much harder than it may sound.
If there is a durable power of attorney for health care, the agent appointed by that document is authorized to make health care decisions within the scope of authority granted by the document. If people have court-appointed guardians with authority to make health care decisions, the guardian is the authorized surrogate. [1]
Don’t assume that being the child will give you automatic control over your parent’s financial and health care decisions. It won't.
Continue reading → The post Key Differences: Living Will vs. Power of Attorney appeared first on SmartAsset Blog. Hard choices wait around every corner as you age, but some of the most difficult ...