Powers of Attorney and Guardianship

Preparation of Power of Attorneys

At Hunt McCullough Kollias & Co., we often have to advise clients in the preparation of their Powers of Attorneys (POA) and guardianships.

A power of attorney is an instrument that delegates your authority to make decisions to one or more persons. Generally, the attorney has powers to do anything which you – the donor – could have lawfully done by an attorney/lawyer.*

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Powers of attorney

There are several forms of powers of attorney:

A (general) Power of Attorney – this is a limited power of attorney that only operates for a specified period of time for a specific purpose (such as when you are having treatment in a hospital, are travelling, or want to bid at an auction.). This power will become invalid on the ending of the event for which it was created, or when you revoke it, or when you lose mental capacity.

An Enduring Power of Attorney (Financial) – this is a broader power in that it lets you choose someone to make financial and legal decisions on your behalf (like banking, changing investments or selling your home) and will not become invalid upon your subsequent mental incapacity to make decisions. This is an ideal power to use as it continues (endures) should you be alive, but lack the ability to make effective decisions in regards to your estate. Your appointed attorney can make such decisions for you.