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- A power of attorney is a legally binding document that names someone to act as your attorney-in-fact or your agent. You specify in the legal document what authority you are transferring to your attorney-in-fact. Your power of attorney may go into effect immediately or at a designated future time.
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May 11, 2023 · A power of attorney is a legally binding document that names someone to act as your attorney-in-fact or your agent. You specify in the legal document what authority you are transferring to...
- Limited Power of Attorney. A limited or special power of attorney grants the agent authority to act on the principal’s behalf for certain matters or events.
- General Power of Attorney. A general power of attorney allows the agent to perform a diverse array of financial actions on behalf of the principal. These can include managing bank accounts, signing checks and buying or selling property.
- Durable Power of Attorney. A durable power of attorney remains in effect even if the principal becomes incapacitated, allowing for the continuity of management over the individual’s affairs.
- Springing Power of Attorney. A springing power of attorney becomes active under certain conditions, such as the principal’s incapacitation. This legal arrangement “springs” into action when, for example, physicians determine that the principal cannot manage their affairs due to mental incapacity.
Apr 22, 2024 · A power of attorney (POA) is a legal authorization that gives the agent or attorney-in-fact the authority to act on behalf of an individual referred to as the principal. The agent may be...
Dec 28, 2023 · A durable power of attorney, sometimes called a DPOA for short, means there is language within the legal document providing that this power extends to your agent even in the event you become incapacitated and unable to make decisions for yourself.
Aug 21, 2023 · A power of attorney, or POA, is a legal document that allows you to give someone else the authority to make decisions on your behalf. Using an attorney to craft your POA can cost you more than $300. Using an online service like LegalZoom can be a more affordable option starting at just $35.
Aug 29, 2024 · A power of attorney is a legal document giving one person (the agent or attorney-in-fact) the right to make certain decisions for another (the principal). The broadest of these documents is known as a general power of attorney, though other, more specific POAs can limit the power of an agent to certain topics.
Aug 4, 2024 · A power of attorney (POA) authorizes someone else to handle certain matters, such as finances or health care, on your behalf. If a power of attorney is durable, it remains in effect if you become incapacitated for any reason, including illness and accidents.
