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What is the difference between a durable and general power of attorney?
What's the difference between durable and general power of attorney? A general power of attorney ends the moment you become incapacitated. A durable power of attorney stays effective until the principle dies or until they act to revoke the power they've granted to their agent.
What is a general and durable power of attorney?
A “General” Power of Attorney gives the Attorney-in-Fact very broad powers to do almost every legal act that the Principal can do. To remedy this inconsistency, the law created a “Durable Power of Attorney” that remains effective (“durable”) even if a person becomes incapacitated.
What is the difference between a general power of attorney and a durable power of attorney?
What's the difference between durable and general power of attorney? A general power of attorney ends the moment you become incapacitated. When a power of attorney is durable, that means there's language within the document which states an agent's authority continues to apply if you become incapacitated.
What does General Durable Power of Attorney mean?
A durable power of attorney simply means that the document stays in effect if you become incapacitated and unable to handle matters on your own. (Ordinary, or “nondurable,” powers of attorney automatically end if the person who makes them loses mental capacity.)
What is a general power of attorney?
A general power of attorney gives broad powers to a person or organization (known as an agent or attorney-in-fact) to act in your behalf. A general power of attorney is often included in an estate plan to make sure someone can handle financial matters.
What is difference between general power of attorney and special power of attorney?
A general power of attorney gives broad authorizations to the agent. The agent may be able to make medical decisions, legal choices, or financial or business decisions. A special power of attorney narrows what choices the agent can make. In other words, special powers of attorney allow you to be more specific.
What is special power of attorney?
Appointing a special power of attorney means legally authorizing another person, called an agent or an attorney in fact, the right to act on behalf of another person, known as the principal, under specific, clearly laid-out circumstances.
What are the two types of power of attorney?
Two Types of Power of Attorney. Although powers of attorney documents serve many purposes, they can be divided into two broad categories -- durable and non-durable. A power of attorney can be used to authorize another person to make medical decisions on your behalf or to manage your finances.
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