Power of Attorney. Download online state specific power of attorney forms
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To better understand the issues relating to your legal situation or problem, our legal information and other law related facts may be of interest to you
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A Limited Power of Attorney is an important Legal document that allows or authorizes the person you name (your Agent, "attorney-in-fact") to perform a particular transaction. The Limited Power of Attorney would restrict the authority of the Agent to a specific situation, Limited time period or type of Legal action.
Generally a Limited Power of Attorney is used for the sale of real or personal Property, but it can cover any specific situation or need that may exist. If someone has moved out of state and wants to sell their house without returning to the state they left just to sign the real estate documents to close a transaction, they may grant a Limited Power of Attorney only for that purpose.
There are two types of Limited Power of Attorney – Durable and Non-Durable Powers of Attorney. The powers you grant in Limited Durable Power of Attorney will remain effective even if you become disabled or incompetent. On the opposite, the powers you grant in Limited Non-Durable Power of Attorney will terminate in case you become disabled or incompetent.
Limited Power of Attorney is valid for the time period you specify in it, or until you revoke this Power of Attorney. By issuing the Limited Power of Attorney you allow another person to do almost all Legal actions which you can do yourself. The following are just a few examples of powers you can grant to your agent:
borrow money at an agreeable interest rate, to add and remove from a bank vault or a deposit box;
to put and move the money from/to your accounts and to make other bank transactions on your behalf;
to buy, sell, enlarge, reduce, and terminate a business interest;
to buy or sell real estate;
to make transactions with your tangible Property, like household items, boats or cars;
to sign your paychecks;
to make any Legal claims;
to perform custodial duties for your children, including housing and schooling decisions;
to make decisions regarding children’s emergency care;
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Return to all Power of Attorney legal information
Legal Articles about Power of Attorney
Power of Attorney Frequently Asked Questions
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Free legal assistance offered for fall series of “Decisions That Determine Your Destiny” ... Legal documents such as a financial power of attorney and advance healthcare medical directive can relieve the burden of resolving legal issues during ...
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