What is a power of attorney?
A power of attorney is a legal document that lets one person (the principal) give authority to another (the attorney-in-fact) to act on their behalf. In California, a power of attorney must be signed by both the principal and a notary public, and can give the attorney-in-fact broad or specific powers. These powers could include making decisions about finances, property, and health care. When it comes to probate law in California, a power of attorney is a key part of estate planning. Without a power of attorney, strangers and the court would decide who can manage the estate if a principal becomes incapacitated or dies. With a power of attorney, the principal can decide who their attorney-in-fact is and specify which powers the attorney-in-fact has. A power of attorney can also be used to manage finances and make medical decisions on a short-term basis, such as when a principal is traveling or temporarily unable to make decisions. It’s important to note that powers of attorney can be revoked at any time and do not survive the principal’s death, so it’s important to keep updating them and reviewing them regularly.
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