Difference Between General Power Of Attorney And Special Power Of Attorney

What is difference between general power of attorney and special power of attorney?

A general power of attorney grants broad powers to the agent, allowing them to make decisions and take actions on behalf of the principal in various legal and financial matters. This type of power of attorney is typically used when the principal wants someone to handle their affairs while they are unable to do so themselves. On the other hand, a special power of attorney is more specific in nature, giving the agent limited powers for a specific task or purpose. It is often used when the principal wants to delegate authority for a particular matter or transaction.

What are the types of difference between general power of attorney and special power of attorney?

The main types of differences between general power of attorney and special power of attorney are as follows:

Scope of Authority: A general power of attorney provides broad authority to the agent, allowing them to act on behalf of the principal in various matters. In contrast, a special power of attorney grants limited authority for specific tasks or purposes.
Duration: A general power of attorney is usually effective until revoked by the principal or until the principal becomes incapacitated. However, a special power of attorney can be effective for a specified period of time or until the completion of a specific task.
Specificity: A general power of attorney is not limited to a specific task or purpose and can cover a wide range of legal and financial matters. On the other hand, a special power of attorney is specific to a particular matter or transaction.
Flexibility: A general power of attorney provides more flexibility to the agent as they can make decisions and take actions on behalf of the principal in various situations. A special power of attorney limits the agent's authority to the specific task or purpose mentioned in the document.
Revocability: A general power of attorney can be revoked by the principal at any time, as long as they are mentally competent to do so. Conversely, a special power of attorney may or may not be revocable, depending on the terms specified in the document.

How to complete difference between general power of attorney and special power of attorney?

To understand and complete the difference between general power of attorney and special power of attorney, follow these steps:

01
Identify the purpose: Determine whether you need to grant broad or limited authority to the agent based on your specific requirements.
02
Consult an attorney: Seek legal advice to understand the legal implications and formalities associated with creating a power of attorney.
03
Draft the document: Prepare a clear and comprehensive power of attorney document, clearly stating whether it is general or special and outlining the specific powers granted to the agent.
04
Execute the document: Sign the power of attorney document in the presence of witnesses and ensure it is properly notarized, if required.
05
Communicate the details: Provide a copy of the power of attorney to the agent, relevant parties, and keep a copy for yourself.
06
Review and update: Regularly review the power of attorney to ensure it reflects your current wishes and make updates or revocations as necessary.

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