There might be situations where you are no longer able to make financial, medical, or legal decisions for yourself as a Georgia resident. It could be a temporary condition such as a major health issue or a more permanent condition, such as an inability to make decisions as you grow old.
For situations like these, the Georgia state law allows you to grant another person, someone you trust, to make decisions on your behalf. The legal document needed to transfer your rights to another person selected by you, in Georgia, is called Power of Attorney Georgia.
What is the Power of Attorney Georgia?
A power of attorney form GA is a legal document that provides a person or party the authority to make decisions and act on behalf of another person in Georgia. The person granting such authority is termed the ‘Principal.’ And the person who receives the authority to make decisions on behalf of the principal is defined as an ‘Agent’ or ‘Attorney-in-fact.’
If you are preparing a power of attorney, you can choose what type of decisions the agent can make for you. And as the principal, you also reserve the right to revoke or cancel a power of attorney anytime you want.
How Does The Georgia Power Of Attorney Work?
A power of attorney Georgia works in different ways depending on the terms and conditions you set. First of all, you must get a template form for a power of attorney, but it must be for the state of Georgia as different states have different forms.
Then you must contact a lawyer to guide you through the process of filing and finalizing the document.
In the document, it is necessary to specify:
- When and how the power of attorney comes into effect.
- In what conditions will the power of attorney get revoked.
- What decisions the agent can and cannot make on behalf of the principal.
These three things vary depending on the type of power of attorney you are filing for, so it’s essential to know the types in the first place.
In general, a power of attorney is used when:
- The principal is incapacitated, such as an illness or disability
- The principal is absent or unable to attend important decision-making events
- The principal is a senior citizen with limited decision-making ability due to old age.
Different Types of Georgia Power of Attorney
Based on the areas of decision making, a power of attorney in Georgia can be of two types, financial and healthcare or medical. As the name suggests, a financial power of attorney form Georgia lets the agent make financial actions and decisions for the principal when it comes into effect, and the medical power of attorney does the same for health-related decisions.
In both cases, the level and extent of decision-making and actions are predetermined by the principal when he/she prepares the document. For example, you can grant the agent complete authority over all your finances, or you can only authorize them to handle personal finances but not professional/business matters.
A power of attorney is also classified into the following three types based on when and for how long they remain in effect.
Non-durable power of attorney
This document grants temporary authority to the agent when the principal is absent to attend important events, such as signing important documents or making and receiving payments. But it gets revoked when the principal is incapacitated or disabled due to health conditions.
This document grants authority to the agent even when the principal is incapacitated. It will be revoked upon the principal’s death or by the principal.
Springing power of attorney
When the principal sets up a power of attorney to come into effect on a specific date or event in the future, it is called a springing power of attorney. The principal predetermines when and how a power of attorney will be effective and can set it to be durable or non-durable after activation.
Why Is The Georgia Power Of Attorney Important?
The Georgia power of attorney form is important mainly to prepare for unforeseen events. An important work-related trip may cause you to be absent for an upcoming business deal.
Accidents and illnesses can leave you unable to make important decisions yourselves. Senior citizens in Georgia may have trouble handling personal and professional finances themselves and might prefer appointing a trusted person to do it for them.
These are just some instances where an individual might need a power of attorney in Georgia. The main purpose of this document is to help you prepare in advance for any situation that might leave you unable to make important decisions yourself.
Requirements for Georgia Power of Attorney
The requirements for filing and activating power of attorney vary in different states. In Georgia, there are three requirements to finalize the power of attorney forms Georgia:
- Signature of the principal (if the principal has a physical disability due to which he/she cannot sign the documents, the principal can choose another person to do so but he/she must be present during the signing process)
- Signature of at least one witness
- Signature of a public notary
All these parties must be present at the same time during the signing process.
Illnesses, accidents, and incidents that leave you incapacitated or disabled often come unannounced and a power of attorney is the best way to prepare for the unexpected. If you are planning to file a Georgia power of attorney for your financial or medical decisions, browse the variety of expert-drafted templates on CocoSign.
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