Title: Powers of Attorney in North Carolina: What They Are and Why You Need Them
1POWERS OF ATTORNEY IN NORTH CAROLINA
What They Are and Why You Need Them
21
What Is a Power of Attorney?
A legal document that allows you to select
someone to act for you
3giving that person specific legal authorities and
the ability to make legal decisions on your behalf
42
What Do They Do?
Powers of attorney are very powerful and
flexible documents
5No two are identical, and through them you can
pass on specific decision-making abilities to
someone else
6(No Transcript)
73
How Do You Make a POA?
You can only give someone else the right to make
decisions on your behalf if your power of
attorney meets all North Carolina legal
requirements
8(No Transcript)
94
What Are the POA Terms?
Powers of attorney can be as broad or as limited
as you like, but are typically divided into two
different types
10(No Transcript)
115
Financial Power of Attorney
Financial powers of attorney are very useful,
especially if youre going on vacation, have
complicated financial affairs, or are planning
ahead for potential incapacity
12Through these documents you can pass on
decision-making rights in a number of areas
13(No Transcript)
146
Healthcare Power of Attorney
Healthcare powers of attorney allow your agent
to make medical decisions after you are
incapacitated
15(No Transcript)
167
Attorney-in-Fact
The person you choose to represent your interests
is called an agent or an attorney-in-fact
17It can be almost anyone you choose, but that
person will have specific authority as granted
under the power of attorney and the terms you
choose
18(No Transcript)
19(No Transcript)
208
Durable Power of Attorney
If you want your agent to act after you have
become incapacitated you must create a durable
power of attorney
21Non-durable powers terminate as soon as you are
incapacitated
229
Limited, General, or Springing POA
The person who creates a power of attorney,
called a principal, gets to choose how broad the
agents authority is and how long the powers last
23(No Transcript)
2410
Revocation
As a principal you remain capable of altering or
revoking the power of attorney at any time
25(No Transcript)
2611
Non-passable Powers
Powers of attorney are NOT suited for ALL purposes
There are some inherent limitations with these
documents
27(No Transcript)
2812
Act Now, Change Later
It is always best to have a power of attorney
ready than to need it yet not have it
29Creating a power of attorney under emergency
situations is never a good idea, as these
documents require planning and preparation
30(No Transcript)
3113
Not Enough for Everything
Powers of attorney are very useful, but they are
not the only legal document you need when
creating an estate plan
32Here are some others you will likely need to
create
33(No Transcript)
34LEARN MORE ABOUT POWERS OF ATTORNEY IN NORTH
CAROLINA
POWERS OF ATTORNEY IN NORTH CAROLINA
35Click to visit organizeyourassets.com