A power of attorney is simply a written authorization to act or perform on the behalf of another in private legal matters, business, or any other personal matter. The person authorizing the other to act is often the principal, donor, or grantor. Written agreements or other instructions regarding the use of the power of attorney are also common in many private documents. An attorney can be used as a tool by which to create these written instructions and agreements. This article has more info about the best Georgia Power Of Attorney firm, check it out! Many people who are not familiar with the English language utilize "written trust" as an alternative to a power of attorney. A written trust commonly includes the name of the principal, the date, and location of the signing of the document. It is very important that you be very clear as to what the exact terms of the trust are. If you become ill or seriously injured, you may no longer be able to sign the written document or the agents you use may no longer have your best interests in mind. You must have a complete understanding as to the meaning of the written document before you sign it. Another way to create a power of attorney for someone else is to name another individual as the agent. In this instance, the principal must appoint an agent who must take all responsibilities and duties on behalf of the principal. This agent is often a close relative or friend. If you do not wish to appoint a family member or close friend as your agent, you can appoint an individual who has been specially selected as your agent under the laws governing the use of general power of attorney. When you appoint someone as your agent, you will also name them as your attorney-in-fact. This means that they will assume all responsibility and duties related to the business regarding transactions and legal proceedings. If the business is successful, then the agent receives all the benefits outlined above under the term 'power of attorney.' A POA Georgia attorney will provide you with the information you need to make an effective and binding document while offering sound legal advice. Naming the person who will act on your behalf as your attorney does not end with the naming of an individual. States vary in their rules on naming individuals as agents. Some states require you to give a certain period of notice before naming an individual as your agent. Others do not require any type of notice or naming requirement. Once you appoint an agent to manage your affairs on your behalf, you are no longer in the position of holding the legal power yourself. As soon as your agent is designated as your legal authority, you lose any right you might have had to control how your affairs are conducted under your own legal authority. If you need more information regarding the ways in which you can appoint an attorney, consult your state Bar Association. It is also important to remember that once you appoint your agent, you give up any right you might have had to recover your losses or to control your business. If you do not take advantage of the opportunities to benefit from the powers of attorney you appoint, you may be at risk of losing your business and personal assets to creditors, other attorneys, or other individuals.
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A last will and testament are a legally binding document that states a person's intentions as to how their properties will be distributed upon their death and as to who will benefit from the deceased person's property before its final distribution. A will often times consists of very specific instructions for how the deceased person's estate will be administered, including instructions as to who will manage the estate, how the assets will be dispersed, how any debts will be paid and who can be made responsible for making payments to others. In addition to these items, the last will and testament often include information regarding who the beneficiary(ies) will be and what they can do during the lifetime of the decedent and after his/her death. It should also be noted that the probate court in each state requires a signed written statement from the testator indicating what type of property (cash, investments, real estate, jewelry, etc.) is owned and to what exact worth the property is. Here is more info about Writing A Will. The purpose of a Will And Testament is to provide a clear, legally binding record of the decedent's intentions with respect to his/her personal property for the remainder of his/her life. Once drafted, a testament is not changed save for the fact that it may be amended by the testator and signators of the document. A will is not considered a legal document by most states and is used to state who the beneficiaries will be and to state what the specific property (cash, investments, estate, jewelry, etc.) is to be distributed under the will. While a will is very important, a testament is even more important. A testament is completely separate from the decedent's personal property and is prepared after research and much consideration. While family and friends may have suggestions and opinions based on their past experiences with the testator, these are not considered as being part of the testator's decision making process. Rather, the decisions made are based solely on the facts and circumstances that exist at the time of the decedent's death. Therefore, if the testator had a sound mind, he/she would have addressed these matters prior to his/her death. If the testator failed to do so, his/her testament becomes legally worthless and has no future value. One of the main purposes of creating a testament in the first place is to protect and assign specific titles to assets without the use of probate court. Unlike probate court, beneficiaries of a testament cannot petition the court for property interests in the decedent's estate (e.g. intestate, revocable trust, etc.) Because a testament is not a legally binding document, it should be prepared by someone who is able to produce a meaningful document (i.e. someone with a sound mind). It is wise to hire a professional to prepare your document, especially if you have many different beneficiaries or many different opinions on key issues regarding the disposition of your estate. Choosing an executor is also more difficult than naming a personal representative. An appointive Trustee is typically selected from among those people who are named in the Will, while an Executor is typically a person selected by the testator. In situations where the testator has no children and a significant number of dependents, the appointment of an administrator can provide the same security as naming a personal representative. Knowledge is power and so you would like to top up what you have learned in this article at https://en.wikipedia.org/wiki/Attorney_at_law. Legal separation is essentially a legal procedure whereby a married couple can formally formalize a temporary separation from marriage while still remaining legally wed. A legal separation may be granted in the form of an order from a competent court. Legal separation, unlike divorce, does not require a commission to be paid. In many instances, legal separation can be granted without court proceedings taking place. Here is more info about How To File For Legal Separation. There are many reasons why one may want to legally separate from one's spouse. If you and your spouse argue frequently or are having problems financially, you can get divorced but remain legally married. Likewise, if one of you has serious health insurance concerns or other marital issues, you may be able to get divorced but stay legally wed. Many couples choose to get divorced, but remain legally married so as to avoid sharing medical and other financial information with the person they are having a sexual affair with. In some cases, it can be difficult for either spouse to move on after the marriage. If you and your spouse have reached an agreement to end your marriage, it may be difficult or even impossible for one of you to move on and live separately. If this is the case, and you both agree to get a legal separation, you will sign an agreement that states that you will live together as husband and wife on a day-to-day basis until the finalization of your marriage. The court will keep the agreements documents so that it is up to you to check them regularly. When a couple decides to become legally separated, it is important to remember that there will be some expenses that you will have to incur while living apart from one another. You will have to file your joint income tax returns and work out marital, financial agreements. It is important to keep your children out of the picture during this time. You can also work out a plan so that both of you can divide up the property and assets as well as the money accumulated during your marriage. Although you and your spouse may still be married, if you are getting a divorce, you can only live apart legally for up to 12 months. See more here about Georgia Separation Laws. You will want to get a signed agreement for your legal separation before you put anything into writing. Once you draw up the agreement, you can work out a schedule for the two of you to meet halfway or arrive at a settlement that both of you can live with. If you and your spouse both decide that a divorce is inevitable, it is important to have the proper paperwork in place so that your attorney does not have to fight to get your name off of the marriage license. Both you and your spouse must have a written agreement approved by a judge. You can get more enlightened on this topic by reading here: https://en.wikipedia.org/wiki/Legal_executive. |