ATTORNEYS AT LAW

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ANCHORAGE, ALASKA 99501

TELEPHONE: (907) 279-4529

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©1997 by Steven Pradell

Alaskans often rely on others to assist them with attending to the financial tasks that become more difficult to do as we become older. On effective method of delegating others to these affairs is through a power of attorney. A power of attorney is a document which is signed before a notary which authorizes another person or persons to perform the acts which are set forth in the signed form. The person carrying out those tasks is called an attorney-in-fact. It is not necessary that the attorney-in-fact be a lawyer: you can assign another person the ability to perform acts which may have legal consequences to you.

Prior to signing a power of attorney you should insure that the person to whom the power is assigned is trustworthy, capable and willing to carry out the tasks which are delegated. Alternative attorneys-in-fact can be placed in the form in case the first individual chosen is unable or unwilling to act out your wishes.

The authority that you delegat can range from being very limited to extremely broad. For example, you could sign a limited power of attorney which enables another individual to sign your name on one specific form on a specific date. Alternatively, you could execute a form which allows another to sell, receive, purchase, or transfer property on your behalf, sue for you, contract on your behalf, employ others, execute agreements, carry out your banking, open accounts, access your safe deposit box or vault, or perform numerous other matters which are set forth in the Alaska statutes. The power of attorney form can specify a date of revocation, or it could remain in effect until you die, become disabled or incompetent. Also, you could state that the power of attorney is effective notwithstanding your future disability, incompetence or until the person to whom the power is assigned has actual knowledge of your death.

Your will becomes effective only upon your death (a "living" will is another matter which may be discussed in a later column). A power of attorney can assist you in conducting your affairs while you are alive, and in the event that you become disabled or incompetent, having a power of attorney can make it much easier for you to keep your financial affairs in order, hopefully avoiding costly litigation if your intent has not been expressed in such a writing.

If you are considering having a power of attorney prepared, it may be important to consult with an attorney to insure that your desires are properly set forth in the correct form.

Steven Pradell is an Anchorage attorney with a practice emphasizing probate and estates, personal injury, criminal and family law. ©1997 by Steven Pradell. This article is not intended to provide legal advice and should not be relied on for that purpose.

A helpful staff at Pradell and Associates provides prompt, courteous services to meet your legal needs. Give Pradell and Associates a call today, at (907) 279-4529.