No legal hassles
With a proper free power of attorney form in place, there are no legal ramifications. When a person loses his mental acuity and is not able to make sound decisions anymore, a court of law takes decisions regarding the assets of the individual. In the absence of a POA form, the court can designate a federal department to manage the affairs of the person. This can put a strain on other members of the person’s family and also lead to delays and confusion in the management of everyday issues.
Easier handling of legal and financial matters
This type of document can cover all money matters as well as any legal problems that might crop up – such as related to superannuation fund payout, appointing beneficiaries or signing of contracts. A flexible instrument, sample power of attorney form can make daily life as convenient as possible.
What is wrongly assumed about a Power of Attorney?
Are you planning to download power of attorney and use it for appointing an agent to manage your affairs, but feel skeptical about it? Find out about some misconceptions that might be making you reconsider your own decision.
It has to be used immediately
This is nothing but a misconception. It has to be made before you lose your mental faculties, but there is no rule that you have to make it come to effect immediately upon creation. You can create a Lasting Power of Attorney, which can be made long before it is needed actually. This type of power of attorney online is designed for loss of capacity. You may keep the document on hold until it is needed or you wish to use it. You may create one in your thirties and avoid registering it until you require it in your seventies.
It is for life
No! That is not the case. Keep in mind that POA forms are of two types, General and Lasting. A Lasting Power of Attorney is generally meant for the long term, while that is not the case with a General POA. You may set up a General Power of Attorney to appoint a person to manage your affairs when you are unable to do so for only a short time, such as due to hospitalization, an overseas trip etc. You can come back and destroy the General POA as soon as you are back.
Only one POA can be made
You can have more than one free Power of Attorney forms, given that there are lots of responsibilities that an appointed agent is supposed to handle. Handling many duties might be tough for one person, and you can have another person to appoint a second agent – known as a ‘Joint Attorney’ – to manage your responsibilities.
You may download all kinds of legal forms from forms.legal website.