Written by Benjamin Kingsley

Do you have questions about or need assistance with a power of attorney? Please click here to email us at contact@legalandme.com.

Do you need a power of attorney form? We make a do-it-yourself power of attorney: finance power of attorney or healthcare power of attorney.

Here are some common terms and definitions related to medical and financial powers of attorney:

Durable Power of Attorney: This is a legal document that allows an individual (the principal) to designate another person (the agent or attorney-in-fact) to make financial or medical decisions on their behalf. The term “durable” means that the power of attorney remains in effect even if the principal becomes incapacitated.

Healthcare Power of Attorney: Also known as a medical power of attorney, this document specifically authorizes an agent to make healthcare decisions for the principal if they become unable to do so themselves. This can include decisions about medical treatments, procedures, and end-of-life care.

Financial Power of Attorney: This document gives an agent the authority to manage the principal’s financial affairs, which may include paying bills, managing investments, and handling banking transactions. The scope of authority can be broad or limited, depending on the principal’s wishes.

Springing Power of Attorney: This type of power of attorney only becomes effective when a specific event occurs, typically the incapacity of the principal. It “springs” into effect when needed, rather than being immediately active upon signing.

Agent (or Attorney-in-Fact): This is the person appointed by the principal to act on their behalf. The agent has a fiduciary duty to act in the best interests of the principal and within the scope of authority granted by the power of attorney document.

Principal: This is the person who creates the power of attorney and grants authority to the agent to act on their behalf.

Capacity: This refers to the mental ability to understand and make rational decisions about one’s affairs. A person must have capacity when creating a power of attorney for it to be valid.

Revocation: This is the act of canceling or terminating a power of attorney. A principal can revoke a power of attorney at any time as long as they have the mental capacity to do so.

HIPAA Authorization: This is often included in healthcare powers of attorney, allowing the agent to access the principal’s medical records and communicate with healthcare providers, in compliance with privacy laws.

Do you have questions about or need assistance with a power of attorney? Please click here to email us at contact@legalandme.com.

Do you need a power of attorney form? We make a do-it-yourself power of attorney: finance power of attorney or healthcare power of attorney.