Power of attorney (POA) allows you to designate someone to act on your behalf if you need someone else to make decisions for you. About POA, there are three main types: durable, lasting, and ordinary. Our goal in this blog post will be to explain the differences between the three types of POA as well as when and where each can be used.
Ordinary Power of Attorney
An ordinary power of attorney (POA) is a legal document that allows an individual to appoint another person, known as the attorney-in-fact, to act on their behalf in matters related to their finances, health, and other affairs. The POA gives the attorney-in-fact the authority to make decisions on behalf of the principal (the person granting the POA). Ordinary power of attorney can be used to manage an individual’s financial and legal matters for a specified period of time, or for a specific task.
For instance, if an individual wants to give someone the authority to sell their house or make medical decisions in their absence, they can use an ordinary POA. However, this type of POA will only remain valid as long as the principal is mentally competent. When the principal loses capacity or dies, the POA becomes invalid.
It’s important to note that an ordinary POA does not give an attorney-in-fact the same powers as a trustee or executor. An attorney-in-fact cannot make changes to a will, create trusts, or handle a deceased person’s estate. They are only authorized to act on behalf of the principal while they are alive and mentally competent.
Durable Power of Attorney
A durable power of attorney (DPOA) is a legal document that allows you to appoint someone to act on your behalf in certain situations. It is important to note that this type of power of attorney is different from an ordinary power of attorney, as it remains in effect even if you become incapacitated or unable to make decisions. This type of power of attorney can be used for a variety of purposes, including managing finances, managing investments, making medical decisions, and making other types of decisions.
In most cases, a durable power of attorney must be created in writing and signed by the person granting the power and a witness. The person appointed to handle the affairs must also sign the document, and it should be notarized to ensure its validity.
When creating a DPOA, it is important to select someone who you trust to act in your best interests. You should also provide specific instructions about what powers you want them to have and when they can exercise those powers. Finally, it’s important to review the document regularly to make sure it is still up-to-date with your wishes.
Using a durable power of attorney can help you maintain control over your finances and other important matters if you become unable to make decisions for yourself. This type of power of attorney also ensures that your loved ones are taken care of in the event of your incapacity.
Lasting Power of Attorney
A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint an individual or individuals, known as ‘attorneys’, to make decisions on your behalf in the event that you become unable to do so yourself. This could be due to illness, accident, or other incapacitating circumstances. The Lasting Power of Attorney is a powerful and important tool that should be used when you need someone else to make decisions on your behalf when you are unable to do so yourself.
The LPA is different from an Ordinary Power of Attorney (OPA) in that it remains valid even if you become mentally incapable of making decisions. This means that your attorney can make decisions on your behalf even if you are no longer able to understand or express them. This is an important distinction, as an OPA will automatically become invalid if you lose mental capacity.
The LPA also differs from a Durable Power of Attorney (DPA) in that it covers both financial and health care decisions. With a DPA, you can appoint someone to make financial decisions on your behalf, but not medical decisions. An LPA allows for both.
When it comes to setting up an LPA, you must decide who your attorney or attorneys will be and what powers they will have. You must also decide whether the attorney will have authority to make decisions jointly with another attorney or independently. You must also choose a ‘certificate provider’ who will confirm that you understand the implications of creating an LPA. Once all of these steps have been taken, you must register the LPA with the Office of the Public Guardian in order for it to become legally binding.
It is important to understand that creating a Lasting Power of Attorney can be a difficult process. It is important to make sure that you fully understand the implications of creating an LPA before taking any steps. You may also want to consult with a lawyer or other professional to ensure that all paperwork is properly completed and filed correctly.
২৪X৭ নিউজ বেঙ্গল এ সবার আগে পড়ুন ব্রেকিং নিউজ। থাকছে দৈনিক টাটকা খবর, খবরের লাইভ আপডেট। সবচেয়ে ভরসাযোগ্য বাংলা এবং ইংলিশ খবর পড়ুন ২৪X৭ নিউজ বেঙ্গল এর ওয়েবসাইটে। নিয়মিত খবরে থাকতে লাইক করুন ফেসবুকে ও ফলো করুন টুইটারে।
‘রঙ’ ছাড়া সংবাদ খুঁজে পাওয়া কঠিন। কোন খবরটা ‘খাচ্ছে’? সেটাই কি শেষ কথা? নাকি আসল সত্যিটার নাম ‘সংবাদ’! ‘ব্রেকিং’ আর প্রাইম টাইমের পিছনে দৌড়তে গিয়ে দেওয়ালে পিঠ ঠেকেছে সত্যিকারের সাংবাদিকতার। অর্থ আর চোখ রাঙানিতে হাত বাঁধা সাংবাদিকদের। কিন্তু, গণতন্ত্রের চতুর্থ স্তম্ভে ‘রঙ’ লাগানোয় বিশ্বাসী নই আমরা। আর মৃত্যুশয্যা থেকে ফিরিয়ে আনতে পারেন আপনারাই। সোশ্যালের ওয়াল জুড়ে বিনামূল্যে পাওয়া খবরে ‘ফেক’ তকমা জুড়ে যাচ্ছে না তো? আসলে পৃথিবীতে কোনও কিছুই ‘ফ্রি’ নয়। তাই, আপনার দেওয়া একটি টাকাও অক্সিজেন জোগাতে পারে। স্বতন্ত্র সাংবাদিকতার স্বার্থে আপনার স্বল্প অনুদানও মূল্যবান। পাশে থাকুন।