Glossary: Power of Attorney

Power of attorney is a document that authorizes another person to act on your behalf. The person who signs the document is the principal and the designated agent is called the attorney-in-fact or agent.

General Power of Attorney – In this situation, the representative can handle nearly any kind of work as the principal, such as opening investment accounts and managing individual finances. A general power of attorney setup is terminated when the principal becomes incapacitated, negates the power of attorney or dies.

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Durable Power of Attorney This setup designates one more person to act on the principal’s behalf and also includes a durable clause that keeps the power of attorney after the grantor comes to be incapacitated.

Special or Limited Power of Attorney With this sort of power of attorney, the agent has certain powers restricted to a specific event. An example is providing the representative authority to sell a home or sign up an automobile. The duration can be limited to a single event or defined in time such as one week.

Springing Durable Power of Attorney. This type of power of attorney is not common in all states. When a specified event occurs such as when the major ends up being incapacitated or is or else unable to make decisions for him or herself, the appointed agent’s authority comes to be effective.

Medical Power of Attorney A medical power of attorney, likewise recognized as an advance directive or advance directive for health care, permits you to name a health care representative. If you can not do so on your own, this is somebody that will make medical decisions for you. In addition to a wide variety of medical decisions, your representative will have authority over your medical treatment, surgeries, artificial hydration and nourishment, organ contribution, selection of health and wellness care centers, as well as release of medical documents.

Your representative will additionally ensure that your health and wellness treatment providers offer you the health care specified in your Do Not Resuscitate (DNR Form) or Living Will. A medical power of attorney becomes effective immediately after you’ve authorized it, yet can only be used if you have actually been declared to be mentally inept by a doctor.

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