Power of Attorney – Overview

In today’s video we talk about Powers of Attorney and break them down by their five key categories. Those categories are:

1. Purpose: The focus of a power of attorney can be health care, financial, or child guardianship.
2. Durability: A durable power of attorney is effective while you are incapacitated, a non-durable power of attorney is no longer effective when you are unable to rescind it.
3. Scope: A general power of attorney is one that includes all the enumerated powers under the Minnesota Statutes. A limited power of attorney can limit these powers.
4. Trigger: An immediate power of attorney is effective as soon as it is signed. A springing power of attorney is effective on the occurrence of a trigger, such as becoming incapacitated.
5. Term: The power of attorney can be effective until your death, until a date specific, or until the occurrence of some event.

If you have questions about powers of attorney and what may be right for you, please contact Signature Law for a free consultation.