Different Types of Powers of Attorney

A Power of Attorney is a document that allows you (the principal) to name an individual (an agent) to act on your behalf with respect to your finances. A Power of Attorney can be drafted to allow the agent to only act while the principal is capacitated. A Durable Power of Attorney can be can be drafted to allow the agent to act during the Principal’s capacity and incapacity. A Power of Attorney can be drafted to allow the agent to act only when the Principal is incapacitated. This Springing Durable Power of Attorney springs into effect at the Principal’s incapacity. A few additional things to consider about a Power of Attorney: Powers of Attorney can have limited powers or very general powers and all Powers of Attorney terminate at the death of the Principal.