[sprite318]

I need info for a speech to teenagers on this subject.

[qbp54321]

Teen's are pretty hard to get across to sometimes, but some topics you should discuss would be possible career choice's by taking that occupation and the money, god knows teen's love money ;D

[NoNameMaddox]

What's a Power of Attorney?

A Power of Attorney is a legal instrument that is used to delegate legal authority to another. The person who signs(executes)a Power of Attorney is called the Principal. The power of Attorney gives legal authority to another person(called an Agent or Attorney-in-Fact) to make property, financial and other legal decisions for the Principal.

A Principal can give an Agent broad legal authority, or very limited authority. The Power of Attorney is frequently used to help in the event of a Principal's illness or disability, or in legal transactions where the principal cannot be present to sign necessary legal documents.


Are There different types of powers of attorney?

Yes. There are "Nondurable ," "Durable," and "Springing" Power of Attorney. A "Nondurable" Power of Attorney takes effect immediately. It remains in effect until it is revoked by the Principal, or until the Principal becomes mentally incompetent or dies.

A "Nondurable" Power of Attorney is often used for a specific transaction, like the closing on the sale of residence, or the handling of the Principal's financial affairs while the Principal is traveling outside of the country.

A "Durable" Power of Attorney enables the Agent to act for the Principal even after the Principal is not mentally competent or physically able to make decisions. The "Durable" Power of Attorney may be used immediately, and is effective until it is revoked by the Principal, or until the Principal's death.

A "Springing" Power of Attorney becomes effective at a future time. That is, it "springs up" upon the happenings of a specific event chosen by the Power of Attorney. Often that event is the illness or disability of the Principal.

The "Springing" Power of Attorney will frequently provide that the Principal's physician will determine whether the Principal is competent to handle his or her financial affairs. A "Springing" Power of Attorney remains in effect until the Principal's death, or until revoked by a court.

What kinds of legal authority can be granted with a Power of Attorney?

Whether "Nondurable," "Durable," or "Springing," a Power of Attorney can be used to grant any, or all, of the following legal powers to an Agent:

Buy or sell your real estate
Manage your property
Conduct your banking transactions
Invest, or not invest, your money
Make legal claims and conduct litigation
Attend to tax and retirement matters
Make gifts on your behalf

It's more factual information rather than something that would make teenagers interested. Sorry that I couldn't help you in making it more interesting.