The Cost of Power of Attorney.

Table of Contents

• Introduction
• Requirements
• Types of Power of Attorney
• Duration of a Power of Attorney in California
• Conclusion

Introduction

A power of attorney is a legal document that allows someone to act on another person’s behalf. It grants the person who holds the power of attorney, known as the agent or attorney-in-fact, the right to make decisions or take actions on behalf of the person granting the power, known as the principal. Powers of attorney can be used for a variety of decision-making and legal tasks, including financial decision-making, buying and selling property, making health care decisions, and filing tax returns.

It is important to understand the cost and requirements of a power of attorney in California before signing any legal documents. In this article, we will discuss what is required for a power of attorney in California, the types of power of attorney available, and how long a power of attorney lasts in California.

Requirements

In order to be valid in California, a power of attorney must meet certain legal requirements. It must be in writing, signed by the principal, and witnessed by two people who are not related to the principal. It must also include the date it was signed and the name of the person granting the power of attorney.

Additionally, the person granting the power of attorney must be of sound mind and able to understand the implications of granting the power. This means they must be of legal age, understand what they are signing, and be able to communicate their wishes. The power of attorney must also be notarized, unless it is a durable power of attorney.

Types of Power of Attorney

There are four types of power of attorney in California. These include:

• General Power of Attorney: This type of power of attorney grants broad authority to the agent to handle most aspects of the principal’s financial affairs. It is usually used in situations where the principal is unable to handle their own affairs due to illness, disability, or advanced age.
• Limited Power of Attorney: This type of power of attorney grants only specific powers to the agent. It is usually used in situations where the principal needs assistance with a single task, such as signing a contract or filing taxes.
• Durable Power of Attorney: This type of power of attorney remains in effect even if the principal becomes incapacitated. It is usually used in situations where the principal needs someone to manage their affairs while they are too ill or disabled to do so themselves.
• Springing Power of Attorney: This type of power of attorney takes effect only when the principal becomes incapacitated. It is usually used in situations where the principal wants to have someone ready to manage their affairs in case they become too ill or disabled to do so themselves.

Duration of a Power of Attorney in California

The duration of a power of attorney in California depends on the type of power of attorney. A general power of attorney typically remains in effect only as long as the principal is of sound mind and able to make decisions. A limited power of attorney typically expires when the task for which it was granted is complete. A durable power of attorney usually remains in effect until it is revoked by the principal or until the principal dies. A springing power of attorney remains in effect until it is revoked by the principal or until the principal recovers from their illness or disability.

Conclusion

In conclusion, it is important to understand the requirements and costs of a power of attorney in California before signing any legal documents. It is also important to understand the types of power of attorney and the duration of each type. A power of attorney can be an invaluable tool in managing the affairs of a principal who is unable to do so due to illness, disability,