UNDERSTANDING THE DIFFERENT TYPES OF POWER OF ATTORNEY: WHICH ONE IS RIGHT FOR YOU?

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1 UNDERSTANDING THE DIFFERENT TYPES OF POWER OF ATTORNEY: WHICH ONE IS RIGHT FOR YOU?

2 Understanding Power of Attorney (POA) is crucial for effective decision-making. This guide explores various types of POA to help you align with your needs.

3 A legal document granting authority to handle affairs if one becomes incapacitated.

4 General Power of Attorney (GPA) Broad powers for financial matters. Effective immediately, until revoked or incapacitated. Durable Power of Attorney (DPA) Remains effective if mentally incapacitated. Essential for future health uncertainties. Special or Limited Power of Attorney Grants limited authority for specific tasks. Ideal for delegating control over certain affairs.

5 Medical or Healthcare Power of Attorney Appoint someone for healthcare decisions. Ensures health preferences are respected. Springing Power of Attorney Activates upon specified conditions. Maintains control until necessary.

6 Assess Needs: Consider financial, healthcare, and specific tasks. Trust Circle: Choose trusted individuals for authority. Consult Professional: Seek legal guidance for tailored advice.

7 Selecting the right POA is crucial. Seek expert guidance for alignment with long-term wishes.

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9 Contact ilaws Scotland for assistance and advice.