Attorneys Detroit Lakes MN

I'll assume the phrase "power of attorney plus" is akin to a durable power of attorney as it relates to the term nondurable power of attorney. The former is a general authorization for a person's ("principal's") designated person ("agent") to act for or on behalf of the principal. Contrary to a nondurable power of attorney, which is used for a specific transaction, a durable power of attorney is broad in scope and is in effect until revoked by the principal, or upon that principal's death.

Carl E Malmstrom
(218) 847-5646
1105 Hwy 10 E, Po Box 1599
Detroit Lakes, MN
State Licensing
Minnesota

Lisa Marie Tufts Frederick
328 Oak St
Detroit Lakes, MN
State Licensing
Minnesota

Simon Charles George
818 Minnesota Ave
Detroit Lakes, MN
State Licensing
Minnesota

Hallie Eugenia Larsen
11515 Fern Drive
Detroit Lakes, MN
State Licensing
Minnesota

Samuel Stephen Rufer
(218) 847-4858
211 W HOLMES ST #201 PO BOX 1409
DETROIT LAKES, MN
Specialties
General Practice
Education
William Mitchell College of Law,Saint John's University
State Licensing
Minnesota

Joseph A Evans
(218) 846-7305
913 Lake Av
Detroit Lakes, MN
State Licensing
Minnesota

Lisa Caroline Morrison
(218) 847-5646
1105 Hwy 10 E, Po Box 1599
Detroit Lakes, MN
State Licensing
Minnesota

Jay D Carlson
P.O. Box 1352
Detroit Lakes, MN
State Licensing
Minnesota

B Joseph Majors II
(218) 847-5646
1105 Hwy 10 E, Po Box 1599
Detroit Lakes, MN
State Licensing
Minnesota

Sarah Maurer Seuntjens
11494 Ravenswood Beach Rd
Detroit Lakes, MN
State Licensing
Minnesota

Defining Terms

Q: Can you please explain the difference between Power of Attorney and Power of Attorney Plus

 

I'll assume the phrase "power of attorney plus" is akin to a durable power of attorney as it relates to the term nondurable power of attorney. The former is a general authorization for a person's ("principal's") designated person ("agent") to act for or on behalf of the principal. Contrary to a nondurable power of attorney, which is used for a specific transaction, a durable power of attorney is broad in scope and is in effect until revoked by the principal, or upon that principal's death.

An example of use for a nondurable power of attorney is when one needs to close on a sale of a residence or business and is traveling abroad or is not otherwise available to attend. An agent (often an attorney) is given a notarized nondurable power of attorney to facilitate execution of that transaction. An example of a durable power of attorney is when the principal is not physically or mentally competent to make a decision, and prior to reaching that state (or by court order) authorizes an agent to act on their behalf.

While an agent is obligated to act in the principal's best interests, one must be careful as a power of attorney is a powerful document that can be abused, particularly durable powers of attorney. Indeed, an unscrupulous agent can abuse that authority and transfer the principal's assets or property to themselves or others. Make sure the agent is trustworthy, and provide for an auditing mechanism by you or a disinterested third party where feasible to help ensure that all is handled properly. Also remember that different jurisdictions have different rules for powers of attorney, so the assistance of council is recommended.

__________________________________

DISCLAIMER: This publication is distributed with the understanding that it does not constitute legal advice or establish an attorney/client relationship by way of any information contained herein. The information provided is for general purposes only, as readers are advised to consult with a qualified lawyer regarding the specifics of their particular circumstances.


Set as favorite Bookmark Email this Comments (0) Add Comment feedSubscribe to this comment's feed
Write comment You must be logged in to post a comment. Please register if you do not have an account yet. busy

Click here to read more from Single Edition