A power of attorney allows you to appoint someone else to step in and manage affairs on your behalf if you are unable to do so. Powers of attorney in California give someone else this legal authority to manage affairs such as selling property. The designated agent appointed in your power of attorney acts on your behalf when making decisions such as selling a home. This obviously involves a great deal of discretion, so it is extremely important to decide who you want to appoint in the role of power of attorney designated agent.
Durable powers of attorney in California allow an agent to sell property in the event that the principal who created the power of attorney is incapacitated or otherwise unavailable. In a case of incapacitation, typically comes up under managing estate affairs under complex circumstances, but a legal tool like a power of attorney must be properly drafted to ensure the authority of the agent so as to maximize efficiency.
You can create very specific and limited powers of attorney to only enable someone to only take certain actions, or you can give someone broad discretion under a general durable power of attorney. Be aware, however, that an agent does have a great deal of authority in the general durable power of attorney situation. This means that you need to have a great deal of trust in the person that you allow to have access to your finances and other details.
If you are concerned about creating a power of attorney for an out-of-state real estate transaction, or you will be unable to remain in California for the closing of a real estate transaction, you want to work with a qualified estate planning attorney to create a power of attorney that covers these bases and outlines the specific circumstances under which an agent can act.
Talk to our lawyers today about how to create a power of attorney for a real estate transaction or something else. We can help you figure out the right fit for your needs.
