What Type of Power of Attorney is Used to Represent Someone With Various Entities?
There are various types of powers of attorney; they can be either general, durable or limited. Some states have also adopted a statutory power of attorney. A general power of attorney grants the agent broad powers to act in regard to the principal’s assets and property while the principal is alive and not incapacitated. A durable power of attorney will remain effective even if the principal becomes incapacitated. A special or limited power of attorney restricts the agent’s action to a particular purpose in order to handle specific matters when the principal is unavailable or unable to do so. If all of the mentioned matters are covered in one document, then a general power of attorney could be used. It may be durable or not, depending on whether the principal wants it to be effective when they are incapacitated. If health care decisions are desired to be made when the person is incapacitated, a health care power of attorney may appoint an agent to make health care decisions on that person's behalf.