Attorneys Hockessin DE

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.

Cynthia Good Beam
751 Gateway Rd
Hockessin, DE
State Licensing
Maryland

Charles Gruver III
(302) 239-3911
724 YORKLYN ROAD,SUITE 315
Hockessin, DE
State Licensing
Delaware

Linda Brakmann Drejza
(302) 235-8296
102 Aerie Court
Hockessin, DE
State Licensing
Pennsylvania

Jerry A Hyman
(302) 234-2400
724 YORKLYN ROAD, SUITE 220
Hockessin, DE
State Licensing
Delaware

Michael J. Sangemino
(302) 235-1222
Froehlich &Sangemino Pa, 7234 Lancaster Pk Ste 300d
Hockessin, DE
State Licensing
Pennsylvania

John A. Macevoy
(302) 234-2083
1899 Brackenville Rd
Hockessin, DE
State Licensing
Pennsylvania

Chester George Davis Jr
(302) 886-5650
5 Clouds Way
Hockessin, DE
State Licensing
Maryland

Melissa Boyd Freeman
(302) 234-1974
1895 Brackenville Rd
Hackessin, DE
State Licensing
Pennsylvania

James Thomas Williamson
822 Meeting House Road
Hockessin, DE
State Licensing
Arkansas

Lynn Bromley Rainis
3 Rebecca Ct
Hockessin, DE
State Licensing
Maryland

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