This document can be used to handle a variety of situations, and can be customized based on your need. You can grant a POA related to different areas of your life, with varying degrees of power for the agent, and for any timeframe that you desire.
Yes, there are four types of POA forms.
- General: A general Power of Attorney form allows your representative to manage all of your property-based and financial affairs. This type of POA grants them general authority.
-Specific/Limited: A specific Power of Attorney form limits your representative s responsibilities to certain types of decisions. You can choose to allow someone to only make decisions in relation to business, for example.
- Ordinary: An ordinary Power of Attorney is only valid while you, the principal, are capable of making decisions. This type of POA becomes invalid in the event that you become incapacitated.
- Durable: An enduring Power of Attorney is when the contract continues even if you, the principal, become incapacitated.
A Power of Attorney document allows you to choose what your personal representative, or attorney-in-fact, will be responsible for by designating certain powers to them.
A Non-Durable Power of Attorney is usually limited to specific situations and becomes effective immediately upon signing. It automatically ends when the specific situation is no longer in effect or when you die or become incapacitated. You can also rescind rescind it at any time.
limited power of attorney