General Power Of Attorney

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General Or Limited Power Of Attorney

The General Power of Attorney Grants Broad Powers.

A General Power of Attorney gives the Agent broad powers over all of the assets of the Principal, including the right to buy and sell property, access private records, use and dispose of personal property and essentially do anything with the Principal's property that the Principal herself could do. Our General Power of Attorney is written to grant the broadest possible powers to cover nearly every situation imaginable. A General Power of Attorney can be either Springing or Durable. Click on the image to the right for a preview of the first page of the this type of power of attorney document.

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The Limited Power of Attorney Grants Very Specific Powers.

A Limited Power of Attorney gives the Agent very specific powers. Usually this form of Power of Attorney is used to authorize the Agent to take a specific action, such as accept an offer to buy the Principal's house or use the Principal's car. On our website, you type in the specific powers you want to give your agent and we insert your description in the power of attorney form right where it belongs for a professionally prepared, signature-ready document every time. A Limited Power of Attorney is also referred to as a "Special" Power of Attorney and can be either Springing or Durable.

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WHAT IS THE DIFFERENCE BETWEEN A DURABLE AND SPRINGING POWER OF ATTORNEY?

DURABLE POWER OF ATTORNEY

In a Durable Power of Attorney the Principal gives the Agent immediate powers over the Principal's property. This means that Agent can immediately make important decisions about the Principal's property as soon as the Power of Attorney is signed. The Agent's power continues until the Principal revokes the Power of Attorney or dies. The Power of Attorney continues to be effective even if the Principal becomes mentally incapacitated. Because the Power of Attorney remains effective even after the Principal's incapacity, it is considered to be "durable."

A Durable Power of Attorney is appropriate where the Principal anticipates needing someone else to manage his or her affairs in the near future. This is commonly the case where an elderly parent is going into a nursing home and needs to appoint a grown child to manage the parent's home and bank accounts. A Durable Power of Attorney is also a very handy document for spouses to sign for each other. The document allows each spouse to act for the other concerning any separate property they may own.

SPRINGING POWER OF ATTORNEY

In a Springing Power of Attorney, the Principal gives the Agent all of the same powers over the Principal's property, but those powers do not become effective until the Principal becomes mentally incapacitated. This means that even though the Principal has signed the Power of Attorney, the Agent cannot exercise those powers until the Principal is mentally incapacitated. Usually, mental incapacity is defined as the inability to comprehend and manage one's affairs. A good Power of Attorney requires that two physicians must certify in writing the Principal's mental incapacity. Because the Agent's powers "spring" into existence upon the disability of the Principal, this type of Power of Attorney is called "Springing."

A Springing Power of Attorney is appropriate where the principal does not anticipate losing mental capacity in the immediate future and does not anticipate the need for anyone to manage his or her affairs for any other reason, such as an extended vacation. The Springing Power of Attorney allows the Principal to name someone now in case those unlikely events occur, but without having to worry about the Agent having such broad authority until the event occurs.

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