One of the more common terms in legal proceedings is “Power of Attorney”. Generally speaking, a power of attorney or also called “letter of attorney” is a document that authorizes someone to act or decide on another person’s behalf to address any personal or business affairs. Usually, the one being authorized by the power of attorney is an agent or in the term used by legal practitioners, the attorney. Having the power of attorney authorizes an agent or attorney to sign papers and conduct other transactions on behalf of the client. The powers and capabilities of someone being authorized by the power of attorney may be specified and limited. In addition to this, a power of attorney may also have specified scope of acts the representative can undertake. All of these will depend on the one giving the authorization.
In common practice, the only time when the power of attorney will lose its affectivity is when the one who gave the authorization, or the “grantor” as they call it, is injured, dead, or already incapable of assuming his/her being the grantor. However, there are cases when the power of attorney is durable. A durable power of attorney can be effective until the grantor’s death, meaning even if the grantor is alive but injured or incapable, the power of attorney is still in effect.
Why is This Important?
Applying for a power of attorney requires lots of documents and it is not cheap either. Fortunately, getting a Massachusetts Power of Attorney is effective, especially when you are in the real estate industry. In most cases, an agent or lawyer authorized by the grantor carries out wishes or instructions granted, even if the latter is injured or mentally incapable to act. The client can also apply for a durable power of attorney if necessary. The grantor must go to the Massachusetts Probate Court to submit the application to have a legal representative who will take over personal and professional transactions upon losing the capability to make decisive actions.
The durable power of attorney is more efficient and accurate compared to the ordinary POA. Having a durable power of attorney saves the grantor from having to go through lengthy court proceedings which are expensive and require lots of time and effort. As a grantor, you can be assured that your wishes are carried out according to what you exactly said. Additionally, the durable power of attorney does not need any court proceedings to become effective. In fact, it can be effective immediately once you became incapable or disabled to act on your transactions. In relation to this, you can control and limit the power given by the document to the agent or lawyer. This power of attorney is flexible and be adjusted in any way the grantor is most comfortable in. In addition to this, applying for a durable power of attorney is reasonably priced. This is good for grantors who owns only small or medium scaled businesses.
The Massachusetts Power of Attorney is a powerful document that allows the authorized agent or lawyer to act and conduct transactions on behalf of the grantor. In general, it can even act against someone by filing charges if needed to protect the grantor’s interests.