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A Special Power of Attorney permits an agent to act in the capacity of the principle for a specific action with a limited scope of duties. Special Power of Attorney is commonly used in real estate purchases, financial transactions or medial decisions (also called an Advance Health Care Directive AHCD).
A Special Power of Attorney gives an agent power to handle only a specified matter.
There are two main legal considerations pertaining to Special Power of Attorney.
The first is determining the scope of the agent’s authority. Since the purpose of a Special Power of Attorney is limited, it is critical that the limitation be defined as clearly and compressively. Vague or confusing language can expand or limit an agent’s authority thwarting the principles wishes.
The second is selecting the agent or Attorney-in-Fact. The Agent or Attorney-in-Fact can be a family member, business associate or trusted friend. The agent is a fiduciary for the principle. Therefore the law requires the agent to act in the best interest of the principle.
In a situation where the agent is not honoring their fiduciary duties, legal action will be required to remove the Special Power of Attorney.
The preparation of a Special Power of Attorney documents is critical in determining how a principle’s interests are carried out in the scope that has been assigned. Any errors in the creation of a Special Power of Attorney can result in actions taken that Grantor does not desire.
The person creating a Special Power of Attorney is known as the “grantor.” For the Special Power of Attorney to be valid the Grantor must be mentally capable.
Instances which may contain controversial actions increase likelihood of contest. If a grantor wishes to lessen the likelihood of contest a lawyer can assist in the creation of a special power of attorney which addresses any capacity issues.
An experienced attorney can assist you in drafting or amending a Special Power of Attorney, which includes a complete and comprehensive scope of duties and can help you select the proper agent(s).
There are times when a Special Power of Attorney is established for a family member that is fraudulent based on malice, manipulation, fraud or Testamentary Capacity issues. A lawyer can assist in voiding the Power of Attorney or legally challenging the action.
To find an experienced Special Power of Attorney Lawyer, contact Attorney Search Network. We can help you find a local and experienced lawyer who will help your case.
If you have any questions about the information provided above, please contact us. Call us toll free at (800) 215-1190 or fill out out online form for your Wills and Estate Planning lawyer referral.