Through executing various powers of attorney, a person — rather than a court — retains the power to decide who will have the authority to make certain decisions on his or her behalf. This
recent article discusses several common types of powers of attorney.
There are many different powers of attorney, and each power can be as specific or as general as the drafting party chooses. Some of the more common powers of attorney include:
- Durable Power of Attorney For Health Care: Allows you to authorize an agent to make health care decisions for you should you become incapacitated
- Limited Special Power of Attorney: Allows you to designate a person who will make limited or special decisions for your child(ren), such as where they will go to school or receive health care
- General Financial Power of Attorney: Allows you authorize an agent to make financial decisions and transact business on your behalf
- Durable Financial Power of Attorney: Allows you to authorize an agent to make financial decisions and transact business on your behalf, and remains active should you become incapacitated
With any power of attorney, it is important to speak with an attorney to ensure that any document you sign transfers exactly the type and amount of power you believe it to transfer. Moreover, it is important to only transmit power of attorney to people that you trust to act solely on your behalf.