General (Financial) Power of Attorney – Equips an agent with financial powers so that they may perform transactions in the primary individual’s name and does not remain effective if the principal is considered incapacitated. The term “durable” means the form remains in effect even if the principal is no longer able to make decisions for themselves. Advance Directive (Medical POA & Living Will)Īdvance Directive (Medical POA & Living Will) – This is a document that combines a medical power of attorney with a living will, creating an instrument where the principal can stipulate what is to occur should they become incapacitated and who will have the authority to make decisions on their behalf.ĭurable (Financial) Power of Attorney – Delegates financial decision-making powers to someone else.
Following the document’s completion, the appointed individual will possess the legal authority to carry out any of the assigned tasks described within the original form. Each version of this instrument will generally require information pertaining to both parties, a description of the powers that are to be delivered, and the signature of the principal which typically necessitates the acknowledgment of witnesses and/or a notary public. These affairs could relate to the management of one’s estate, healthcare, or parental authority depending on the type of POA executed. A power of attorney assigns an “agent” or “attorney-in-fact” to act in the place of another (known as the “principal”) for certain personal affairs.
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