Power of Attorney vs. Durable Power of Attorney & Much More
Obtaining a power of attorney in Maryland can be a daunting decision. Not only are there many legal and technical aspects to consider, but it’s often an emotional process. Even if there are no immediate concerns and you’re planning ahead for the future, it still can take a hefty toll to consider and evaluate.
Along those lines, there are a variety of different types of power of attorney in Maryland. It’s important that you understand how they all differ, and which ones apply to which types of circumstances.
Use the guide below and we’ll explain several common forms of powers of attorney and other associated terminology and varieties.
Power of Attorney vs. Durable Power of Attorney
Power of Attorney in Maryland:
A basic power of attorney in Maryland allows an agent to handle specifically outlined tasks, transactions or decisions for the principal in the agreement. When specific tasks are outlined, as just described, you’re dealing with a limited power of attorney. Maryland also provides for a general or full power of attorney, which provides a far broader scope of power and control.
Durable Power of Attorney:
A durable power of attorney is unique in that it extends the traditional power of attorney in Maryland beyond the incapacity of the principal, lasting to his or her death. It’s a common option, because it allows seamless handling of important decisions and ongoing, changing circumstances and difficult matters.
It’s most often used in conjunction with health care decisions. However, it’s not solely a medical power of attorney. Maryland regulations also allow durable power of attorney to be utilized for issues involving property.
In the case of a springing power of attorney, the agreement goes into effect upon the incapacitation of the principal, or another outlined, definite circumstance, whereas other instances go into effect immediately.
Of course, this is still just the beginning. Other potential circumstances involve corporate duties and proxy voting, powers of attorney for a child, and so forth.
When you need to obtain a power of attorney in Maryland, don’t hesitate to contact the Law Offices of Brandon Bernstein for a free consultation by calling 240.395.1418.
The information and materials on this blog are provided for general informational purposes only and are not intended to be legal advice. Read our full disclosure here.