The powers that you can grant your attorney-in-fact include:
- Real Estate: To buy, sell, rent, or otherwise manage residential, commercial, and personal real estate.
- Business: To invest, trade, and manage any and all business transactions and decisions, as well as handle any claim or litigation matters.
- Finance: To control banking, tax, and government and retirement transactions, as well as living trust and estate decisions. Financial powers also allows your representative to control personal insurance policies and to continue donating to any charities in your stead.
- Family: To purchase gifts, employ professionals, and to buy, sell or trade any of your personal property.
- General Authority: This grants your personal attorney the authority to make any decisions that you would be able to if you were personally present.
If you decide you no longer want a Power of Attorney, you can take the following active measures to terminate it, provided you are still legally competent:
- Prepare a Revocation of Power of Attorney.
- Destroy the document.
- Follow any termination procedures detailed in the document.
Most states will recognize any POA that is validly signed in another state. So if you make a valid document while living in one state and then move to another state, your document will still be valid in your new state of residence. However, it may be a good opportunity to update your document and prevent it from being “stale”.
A Power of Attorney is different than an Advance Healthcare Directive because an Advance Healthcare Directive only allows another individual to make healthcare decisions on a principal s behalf. It talks about specific circumstances under which a principal would like someone else to be their agent for health and allows a principal to define the types of authority they would like the agent to have. A Power of Attorney is similar, but is used only for financial decisions.
how to get power of attorney
general power of attorney