Durable Vs General Power Of Attorney Form

The term durable means that if the principal should become incapacitated the form would remain in effect.

Durable vs general power of attorney form.

The term power of attorney can mean different things depending on its use and context which can sometimes create confusion. The term durable means that if the principal would become incapacitated or no longer be able to think for themselves that the form would remain valid and in effect unlike general power of attorney. Under a nondurable power of attorney sometimes referred to as a regular power of attorney the named agent s authority ends if the person who granted the power becomes incompetent or incapacitated. It s designed to provide an agent with broad powers that don t.

Therefore it s recommended to have the agent be someone who the principal can trust and who. There are several types of power of attorney. A durable power of attorney is a designation that is given to someone else to be able to handle financial transactions on their behalf. A durable power of attorney form allows an individual principal to select someone else agent or attorney in fact to handle financial related matters on their behalf.

It is important to understand some of the different categories of power of attorney the power provided in each and the way in which a durable power of attorney is different. Among the most common are special general and medical power of attorney. A general power of attorney grants wide legal authority to act on a person s behalf including filing tax returns paying bills borrowing money and so on.