Various Types of Powers Of Attorney
DescriptionThere are 5 types of Powers Of Attorney.
• There are some legal and almost all financial decisions in a General Powers of Attorney.
• A Specific Powers of Attorney is restricted to a transaction or limited time.
• A Sustainable Powers of Attorney gives the ability to avoid the inability of the principal, which is useful in estate planning.
• A Financial Powers of Attorney is powerful because it allows the agent to make all financial decisions for an incompetent principal. Some financial institutions require the attorney's durable power instead of the attorney's financial power, or instead.
• A Health or Medical care Powers of Attorney allows the decision of health care for the principal, when they become disabled.