Table of Contents
- Power of Attorney
- Requirements for Power of Attorney in California
As a child or close relative of an elderly parent, you may need to gain control of their affairs in the event of their incapacity or mental incompetence. In order to do this, you will need to get a power of attorney, or POA. This document is a legal agreement that grants you the authority to act on behalf of your elderly parent in the capacity of a fiduciary. This article will explain how to get power of attorney over your parents and what you need to consider when doing so.
Power of Attorney
A power of attorney is a legal document that grants you the authority to act on behalf of another person, in this case your elderly parent. This document is essential in the event that your parent becomes incapacitated or mentally incompetent and is unable to make decisions for themselves.
When Elderly Parent is Mentally Incompetent
If your elderly parent has become mentally incompetent, you will need to have a power of attorney (POA) to be able to act on their behalf. The POA should be signed by your elderly parent before they become mentally incompetent. In order for the POA to be legally binding, the document must be drafted and executed by a lawyer.
When Person is Incapacitated
If your elderly parent has become incapacitated, meaning that they are unable to make decisions for themselves, you will need to have a power of attorney (POA) to be able to act on their behalf. In order for the POA to be legally binding, the document must be drafted and executed by a lawyer.
The cost of a power of attorney varies depending on the state and the lawyer you choose to draft the document. In California, the average cost of a power of attorney is between $500 and $2,000.
Requirements for Power of Attorney in California
In California, all POAs must be written in a specific format and signed by both parties. The POA must also include a statement that the party signing the document is of legal age, is mentally competent and is signing the document of their own free will. Additionally, the POA must be notarized.
Gaining power of attorney over your parents is a necessary step to ensure their wellbeing in the event of their incapacity or mental incompetence. In California, the cost of a POA can range from $500 to $2,000, depending on the lawyer you choose. A POA must be neatly written in a specific format, signed by both parties and notarized.
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