Powers of Attorney

Power of Attorney is a legal tool used to delegate legal authority to another person, called the Agent or Attorney-in-Fact. The person who signs a Power of Attorney is called the Principal, and can give the Agent anywhere from broad legal authority to very limited authority. A Power of Attorney is most often used in the event of illness or disability on the part of the Principal, or during legal transactions where the Principal cannot be present.

Different Types of Powers of Attorney

1. Limited Power of Attorney. Through a limited Power of Attorney you authorize another person to do specific things for you for a limited period of time, or in certain circumstances. The limited Power of Attorney ends if you become incapacitated or die. It also could end at a time that you specify in the document.
2. General Power of Attorney. A general Power of Attorney gives another person the authority to do whatever you can do. Think very carefully before signing this type of document. It should be used sparingly. This document ends when you become incapacitated or die.
3. Durable Power of Attorney. A durable Power of Attorney authorizes your agent to continue to act for you after you become incapacitated. This document ends at your death. It can take effect as soon as you sign it.
4. Springing Power of Attorney. A springing Power of Attorney can be written so it goes into effect if you become incapacitated. Be very careful to define clearly exactly how others will determine that the "springing event" has occurred.