When you need someone to execute something for you, you will need to make the power attorney. This document will allow a person to act for financial or other things when you are not capable on your behalf. However, there are many types of power attorney for a different purpose. Therefore, it is important to understand all of them so you will pick the correct option.
Limited power of attorney form
This power of attorney will grant a person to act on your behalf for a limited purpose. This term is also known as the special limited power of attorney. For example, you give someone a right to sign an agreement of property for you on the date when you are out of town.
However, before you draft the document, check the things that your agent can and can’t on your behalf. It is always wise to consult with the lawyer first.
A general power of attorney form
This document will grant the attorney or agent all the powers and also rights to the person can act like yourself. For example, the document is set to give all the rights and power to help you sign documents, conduct the financial transactions and pay the bills. Therefore, when you are incapacitated and need someone to conduct financial matters, then this document is perfect for you. This document will end after your death or when you rescind it.
The best part of this document is the agent can handle a variety of task including helping you signing buying a real estate document.
Durable Power of Attorney
The durable power of attorney can be the general or limited power of attorney and it works when you are incapacitated. At this point, no one can represent you when you are incapacitated until the court appoints a guardian and conservator. This document will no longer be applicable until your death or rescind it.
Medical Power of Attorney
If you are suffering from a disease you have the right to decide the medical treatment. You can use the medical POA that enables you to authorize a trusted agent to do the medical treatment when you are not able to communicate. The agent you have chosen will help you carry out the decision.
If you are choosing the limited power of attorney, then there are some limitation which restricts the agent’s activities. You can limit the power of attorney for a single activity such as handling your properties transactions. Besides, the principal can also limit it for a specific period of time. This is done when the principal is temporarily unavailable so the person appoints the agent the carry out the task.
Furthermore, the limited power of attorney requires the date, sign and also witnessed which needs to be set out by the authorities. The mechanism, specific information and also accounts need to be detailed. Besides, the revocation clause should be arranged too.
In short for learning how this form structured, you can download our samples and templates in our page for free.
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