General Power of Attorney
A general power of attorney grants someone a generalized authorization to handle your affairs. The person you designate to act on your behalf, also known as an agent, could handle a variety of tasks, including entering contracts or buying or selling real estate and making other personal or business decisions.
Special or Limited Power of Attorney
If you’re looking to narrow down what your agent can do, you’ll want to choose a special or limited power of attorney. You can specify what your agent can and cannot do on your behalf. If you’re unsure of what to include in your special power of attorney, it’s always a great idea to consult with your lawyer first.
Durable Power of Attorney
Your agent can act on your behalf during specific dates that you stipulate. Your non-durable or enduring power of attorney ends if you decide to cancel it or if you’ve specified an expiration date. If you’d like your power of attorney to be upheld even if you become mentally incompetent to communicate your wishes or decisions, a durable power of attorney may be the way to go.
Healthcare or Medical Power of Attorney
Healthcare or Medical Power of Attorney is where you authorize a trusted agent to make medical treatment decisions on your behalf, if you are unable to. If there is ever a situation where you’re unable to communicate your wishes, you’ll want a trusted agent by your side to carry out your decisions. Most medical power of attorney are durable since it takes into consideration that you’re not mentally competent to communicate your decisions.
Before making a final decision, you will want to consult with your attorney.