What is a power of attorney?
Power of attorneys are documents that even when you’re not incapacitated give an authority to someone to do everything that you could do. People sometimes think that powers of attorney only come into play if you’re unable to go to the bank on your own or if you’re unable to do it for whatever reason. That’s not true. When you give a power or attorney to someone, they are in your name and place instead. They can do whatever they want to do so if you give your spouse a power of attorney, they could go down and withdraw money from your individual bank account for example. So they’re very powerful documents and that’s some referring to a general and durable power of attorney in Massachusetts. There could also be limited power of attorney that are given and in example of that might be if your spouse can’t be present at a closing and you plan on purchasing a marital home, and say they’re travelling for business so bank attorney might accept the power of attorney for you to be appointed to sign the documents for your spouse. That would be an example of a limited power of attorney.
This informational blog post was brought to you by Cynthia L. Hanley, an experienced Mansfield, Massachusetts Estate Planning Lawyer.