Here are some of the most common types
This type of POA gives the agent broad powers to act on behalf of the principal in a wide range of legal and financial matters.
A limited POA grants the agent the power to act on behalf of the principal only in specific situations or for a limited period of time.
A durable POA remains in effect even if the principal becomes incapacitated or unable to make decisions for themselves.
A springing POA only becomes effective if certain conditions are met, such as the principal becoming incapacitated.
A medical POA grants the agent the power to make medical decisions on behalf of the principal if they are unable to do so.
A financial POA grants the agent the power to make financial decisions on behalf of the principal if they are unable to do so.
This type of POA grants the agent the power to buy, sell, or manage real estate on behalf of the principal.
What powers does a general POA grant?
A general POA grants the agent broad powers to act on behalf of the principal in legal and financial matters.
How long does a general POA last?
A general POA typically lasts until it is revoked by the principal or until the principal becomes incapacitated or dies.
Can a general POA be limited?
Yes, a general POA can be limited in scope or duration by the principal.
What is the scope of a limited POA?
A limited POA grants the agent the power to act on behalf of the principal only in specific situations or for a limited period of time.
Can a limited POA be revoked?
Yes, a limited POA can be revoked by the principal at any time.
What is the benefit of a durable POA?
A durable POA remains in effect even if the principal becomes incapacitated or unable to make decisions for themselves.
How is a durable POA different from a general POA?
A durable POA is specifically designed to remain in effect if the principal becomes incapacitated, while a general POA may terminate in such a situation.
When does a springing POA become effective?
A springing POA only becomes effective if certain conditions are met, such as the principal becoming incapacitated.
What are the benefits of a springing POA?
A springing POA can provide additional protection for the principal's decision-making authority, as the agent's power is triggered by a specific event.
What powers does a medical POA grant?
A medical POA grants the agent the power to make medical decisions on behalf of the principal if they are unable to do so.
What is the difference between a medical POA and a living will?
A living will provides specific instructions for end-of-life care, while a medical POA allows the agent to make medical decisions on behalf of the principal in a wide range of situations.
What powers does a financial POA grant?
A financial POA grants the agent the power to make financial decisions on behalf of the principal if they are unable to do so.
Can a financial POA be limited in scope?
Yes, a financial POA can be limited by the principal in terms of the specific financial decisions the agent is authorized to make.
What powers does a real estate POA grant?
A real estate POA grants the agent the power to buy, sell, or manage real estate on behalf of the principal.
How long does a real estate POA last?
A real estate POA typically lasts until the real estate transaction is completed or until it is revoked by the principal.
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