General powers of attorney

General powers of attorney

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What is a general power of attorney

  • A general power of attorney (GPA) is a legal document that allows you to appoint someone you trust to make decisions and act on your behalf in relation to your financial and legal matters. Unlike an enduring power of attorney, a general power of attorney is only valid while you are mentally capable of making decisions for yourself.

  • A GPA can protect your interests in unexpected situations where you cannot act on your own behalf. For instance, if you are hospitalized, out of the country or otherwise unavailable, your attorney can manage your financial and legal affairs.

  • Knowing that someone you trust is in charge of your affairs can give you peace of mind. With a GPA, you can ensure that your interests are protected, and your finances are managed according to your wishes.

  • A GPA can also prevent legal issues that can arise when you are unable to act on your own behalf. It can help avoid costly court proceedings, prevent disputes among family members, and ensure that your affairs are handled in a timely and efficient manner.

The benefits of a general power of attorney

  • A GPA can be customized to suit your specific needs. You can choose the scope of authority you want to give to your attorney, the duration of the power, and any limitations or conditions you want to impose.

  • A GPA gives you control over who will manage your affairs. You can choose someone you trust to act in your best interests and make decisions according to your wishes. A GPA ceases if you become incapacitated.

  • A GPA can also give your attorney access to your funds to pay for your care and expenses if you are unable to do so, but not if you are mentally incapacitated. This can ensure that you receive the care and support you need when you need it.

FAQs

  • A: If you become mentally incapable and you only have a GPA, it will no longer be valid, If you want someone to continue to make decisions on your behalf, you will need to create an enduring power of attorney.

  • A: The GPA will detail the financial and legal decisions that your attorney can make on your behalf.

  • A: Your GPA can come into effect immediately or at a specified time, such as when you go overseas.

  • A: Yes, you can change your general power of attorney at any time, as long as you are mentally capable.

  • A: Yes, you can revoke your GPA at any time, as long as you are mentally capable..

  • A: It is not mandatory to have a lawyer to create a GPA. It is recommended that either you have legal advice to ensure it is legally binding or that yos use DYOdocs to prepare it.

Disclaimer: This article should not be relied upon for legal advice. Always seek professional legal advice before making any decisions regarding your business.