Power of Attorney
A power of attorney (POA) is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter.
Common Types of Power of Attorney's:
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General Power of Attorney
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Limited Power of Attorney
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Financial Power of Attorney
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Medical Power of Attorney
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Springing Power of Attorney
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Durable Power of Attorney
General Power of Attorney
A power of attorney authorizes another person the principal, when you are unable, unwilling or incapable of acting on your own. The power can apply to a particular transaction or under a widespread host of circumstances. The type of power of attorney you execute will govern the types of transactions covered by it and often the time period during which it may be used.
Limited Power of Attorney
A limited power of attorney grants the representative that you choose the power to act on your behalf under limited circumstances. You spell out the nature of these circumstances when you create the device.
Financial Power of Attorney
A financial power of attorney gives only one or a few powers to your agent, such as buying or selling certain property. This is sometimes referred to as a special power of attorney.
Medical Power of Attorney
Also referred to as a power of attorney for health care or health care proxy, a medical power of attorney gives the agent the authority to make decisions about the medical care the principal receives if the principal is unable to make his/her own decisions either due to incapacity or some other condition that prevents communication. There are two types of Medical Power of Attorney's: *Springing and *Durable.
*Springing Power of Attorney
A Springing Power of Attorney usually springs to life only upon incapacity. This must be a trusted person who will make your medical decisions for you.
*Durable Power of Attorney
A Durable Power of Attorney must be a trusted person who will make your medical decisions for you. A Durable Power of Attorney is always in effect, even without incapacity.
