North Myrtle Beach Power of Attorney Lawyer

If you want someone to purchase a real property under your name, deposit a check to your bank account, file your taxes, or claim a document on your behalf, you need a power of attorney. A power of attorney is a writing or other record that grants authority to an agent to act in the place of the principal (S.C. Code § 62-8-102 (7)).

Legally speaking, the principal refers to the person with contractual capacity who grants authority to an agent in a power of attorney (SC Code § 62-8-102 (9)). The agent pertains to the person granted authority to act for a principal under a power of attorney, whether denominated as an agent, attorney-in-fact, or otherwise (SC Code § 62-8-102 (1)).

If you need help in better understanding powers of attorney or how to establish a power of attorney, contact Bespoke Estate Law. We've helped many families and individuals just like you, and we would be happy to discuss your needs in a complimentary consultation. We are North Myrtle Beach's estate planning attorneys, and we can handle all aspects of your estate plan.

Types of Power of Attorney Recognized in South Carolina

In North Myrtle Beach, the rules for executing, exercising, and limiting a power of attorney are provided under the South Carolina Uniform Power of Attorney Act, delineated under Article 8, Title 62 of the South Carolina Code of Laws.

General Power of Attorney

This grants broad powers to another to execute several acts related to the primary purpose of the power of attorney. Typically, a general power of attorney is executed to perform administrative matters on behalf of the principal.

Limited Power of Attorney

A limited power of attorney gives the agent specific powers to act on behalf of the principal. The specific acts are identified, limiting what the agent can do.

Durable Power of Attorney

A durable power of attorney is a special kind of power of attorney that remains valid and effective even if the principal subsequently becomes incapacitated or mentally incompetent. Generally, a power of attorney is deemed terminated when the principal becomes incapacitated (SC Code § 62-8-110 (a)(2)). An exception to the rule is a durable power of attorney.

Springing Power of Attorney

A springing power of attorney takes effect once a specific event or condition is met (SC Code § 62-8-109(a)(1)). This type of power of attorney is contingent on a particular occurrence, as it does not become active immediately upon its creation. A springing power of attorney only becomes effective after the designated event or condition has been satisfied. A typical condition for a springing power of attorney is the principal's incapacity.

Health Care Power of Attorney

A health care power of attorney is a document where you grant your agent the decision-making power pertaining to your health while you are incapable of making a decision yourself. You may grant an agent sweeping authority to make all of the same decisions that you could make on your own, or you can limit their power to only certain decisions.

Creating a Valid Power of Attorney in North Myrtle Beach

A power of attorney is deemed valid and enforceable in South Carolina if the following requisites met:

• The principal must sign the power of attorney. It may be signed by another person in the presence and under the direction of the principal.

• Two witnesses must witness the execution of the power of attorney.

• The power of attorney must be acknowledged by a notary public or a person authorized to administer an oath within the jurisdiction of South Carolina according to Section 30-5-30 of the South Carolina Code of Laws (S.C. Code § 62-8-105).

Notably, the principal must have contractual capacity to execute a power of attorney. To have contractual capacity, the principal must be 18 years of age.

The principal must also be of sound mind and capable of making rational decisions. The principal must know the subject of the properties or rights affected and the nature or purposes of executing the power of attorney. More importantly, the principal should not be influenced by drugs or conditions affecting his rational thought.

The agent must comply with numerous aspects of SC law to ensure faithful performance of their duties. The appointment of the agent is as a fiduciary (S.C. Code § 62-8-102(1)), founded on trust and confidence. For this reason, the law imposes the following duties on the agent:

• The agent shall act under the principal's reasonable expectations and in the principal's best interest.

• The agent shall act in good faith in performing the power granted under the power of attorney.

• The agent shall act within the scope of authority granted in the power of attorney (S.C. Code § 62-8-114).

Potential Risks of Power of Attorney

The most common potential risk of power of attorney is when the agent commits misconduct by acting beyond the scope of the power of attorney or acting within personal interest to the principal's detriment. In such a case, the principal's remedy is to file a case before the court to review the agent's conduct (S.C. Code § 62-8-116).

Consult With a North Myrtle Beach Power of Attorney Lawyer Today

It is advisable to consult a knowledgeable North Myrtle Beach power of attorney lawyer if you are considering creating power of attorney. The skilled counsel at Bespoke Estate Law has many years of experience helping clients create all manner of power of attorney agreements. We will ensure you understand which power of attorney option is correct for your circumstances and guide you through all steps of the legal process. Contact us today to discuss your options.

If you need help from an estate planning attorney in Wilmington NC, Surfside Beach, Myrtle Beach, or anywhere else in the surrounding area, we can help.