An Insight On The Different Types Of Power Of Attorney

There are different types of power of attorney. These are meant to ensure that the needs of the principal is properly addressed and provided for. When preparing or creating a power of attorney, it is important to get lawyer assistance.

They would be able to help you identify what type of power of attorney would be best suitable for your needs.

• General power of attorney

The general power of attorney provides the attorney-in-fact (or agent) authority in all situations unless specified by the document. General power of attorney would include accessing safe deposit boxes, setting up trusts, transferring assets to trust funds, filing tax returns, entering contracts, representing the principal (signor of the document) and buying and selling property.

This type of power of attorney would be valid unless specified by the document, the principal dies or revokes the document, or the document specifies that it would end upon the event when the principal gets incapacitated or disabled.

• Specific power of attorney

If the attorney-in-fact is only granted authority over specific transactions like collecting debts, buying and selling property, then it is referred to as the specific power of attorney. The attorney-in-fact would only perform duties specified in the document until the principal revokes the document. Aside from revoking, both general and specific power of attorney is discontinued upon the principal’s incapacity and death.

• Non-durable power of attorney

The clear characteristic of the non-durable power of attorney is that it is for short-term transactions only. In a situation when the principal could not handle a transaction, then this type may be more suitable. Usually, this kind of power of attorney has an expiration. When the principal becomes incapacitated or is no longer able to provide authority for the continuation of the power of attorney, the document is no longer valid.

• Durable power of attorney

Unlike the non-durable type, the durable power of attorney can continue even after the principal becomes incapacitated or becomes incompetent in making decisions. The durable power of attorney can be terminated if the principal would terminate it or in the event of the principal’s death.

Durable power of attorney could cover health and care decisions, like discontinuing life support or surgery. It could also include financial matters unless specified by the document and the principal.

• Springing power of attorney

The springing power of attorney would “spring” in a specific event which is specified by the power of attorney. It could be an event of disability, illness or travel abroad. it would only be valid, if there are doctor or doctors which identified that the principal is indeed incapacitated.

However, it may pose some problems since mentally incapacitated is defined subjectively and difficult to determine. So it is not recommended that durable power of attorney would be “springing.”

• Health care power of attorney

This power of attorney is specified for only health care issues and is commonly used by principals who are suffering from terminal or mental illnesses. This kind of power of attorney is only contained in medical scope and could not be used for other duties.

Other Power of Attorney and Your Life Articles

Important Considerations When Creating a Financial Power of Attorney
How an Agent in Your Power of Attorney should Manage Your Money
Medical Issues And Power Of Attorney
Power of Attorney: What to Consider in Choosing an Attorney-in-Fact
Frequently Asked Questions about Power of Attorney
Power Of Attorney And Its Validity
What are the Different Types of Power of Attorney? 
What Is The Durable Power Of Attorney For?
Essential Information about Durable Power of Attorney
What Power of Attorney Is
Watching It: Power Of Attorney And Problems
Choosing The Best Agent For Your Power Of Attorney
Power of Attorney: Should You Get One?
Choosing an Agent for your Power of Attorney
Preparing for Your Future? Consider a Health Care or Medical Power of Attorney
How Much Power of Attorney Should You Give to Your Attorney-in-Fact?
Power of Attorney: A Brief Overview
Four Main Types of Power of Attorney
The Pros And Cons Of The Power Of Attorney
Power of Attorney 101
Seven Steps in Preparing a Power of Attorney
An Insight On The Different Types Of Power Of Attorney
Understanding The Power Of Attorney
Types Of Power Of Attorney
Why Do You Need to Prepare a Power of Attorney?

Power of Attorney and Your Emotions Videos

Site Index Page * Home Page * Privacy Policy * Conditions * Disclaimer * Contact

Disclosure: Advertisements are placed on this website to offset the cost of maintenance and to keep this site free for everyone to use. Owners of this website will receive compensation for products and services purchased through featured advertisements.
All claims of actual user results should be considered as a-typical.

© 2011 Copyrighted by OkiDoki - All Rights Worldwide Reserved!
Site and articles redirected and transformed by Hans Peter M. Mul