What Are 5 Types Of Power Of Attorney Forms? Power of attorney (POA) is a legal document that allows someone else to act on your behalf for specific or all legal and financial matters. Depending on the level of authority granted, there are five types of POA forms that can be used for various purposes. Know about the five types of free power of attorney forms and their specific uses. 1. General Power of Attorney A General Power of Attorney gives broad authority to the agent to manage your financial and legal affairs. This POA form is usually used when the principal (person granting POA) cannot handle their affairs due to physical or mental incapacity. However, it is important to note that a General POA terminates once the principal becomes incapacitated. 2. Durable Power of Attorney A Durable Power of Attorney is similar to a General POA, but it remains valid even after the principal becomes incapacitated. This means that the agent can continue to manage the principal's affairs even if they become mentally or physically unable to do so. A Durable power of attorney form in Alabama can also be used to allow the agent to manage affairs in the event that the principal is unavailable for a period of time. 3. Limited Power of Attorney A Limited Power of Attorney is a more specific type of POA that grants the agent authority over a limited number of legal and financial matters. This type of POA is often used for a specific transaction or purpose, such as the sale of a property or the signing of legal documents when the principal is unavailable. 4. Healthcare Power of Attorney A Healthcare Power of Attorney grants an agent the authority to make medical decisions on behalf of the principal. This type of POA is used when the principal is unable to make their own medical decisions due to illness, injury, or incapacity. The agent appointed in this POA can make decisions about medical treatments, procedures, and end-of-life care. 5. Springing Power of Attorney A Springing Power of Attorney only becomes effective when a specific event occurs, such as the incapacitation of the principal. These legal documents online are often used in situations where the principal wants to ensure that their affairs are managed by someone they trust, but only if they are unable to do so themselves.
What Are 5 Types Of Power Of Attorney Forms
May 20, 2023
Power of attorney (POA) is a legal document that allows someone else to act on your behalf for specific or all legal and financial matters. Depending on the level of authority granted, there are five types of POA forms that can be used for various purposes.
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