POWER OF ATTORNEY: TYPES OFTEN CREATED
A General Power of Attorney is a broad type of POA document, and gives the Attorney in Fact the power to execute, on behalf of the grantor, both legal and financial agreements that are binding.
A Durable Power of Attorney is essentially a General Power of Attorney but, as the name suggests, is meant to be of a permanent nature because the grantor has agreed in writing that he or she wishes the Power of Attorney to remain in effect should the grantor become permanently ill or disabled. Many financial institutions prefer this type of POA, and all fifty states recognize some form of Durable Power of Attorney. SEE BELOW “What rights does the agent or Attorney in Fact have?”
A Specific Power of Attorney (also called Special Power of Attorney) will be in force for a limited amount of time, or will delegate power to the grantee or agent for only a specific instance, such as the signing of certain papers at a location the grantor or principal cannot travel to due to a physical ailment.
A Medical Power of Attorney grants the Attorney in Fact the right to make decisions about medical treatment or health care on behalf of the principal or grantor, perhaps during an illness or for a period of time following an accident.
A Springing Power of Attorney goes into effect at some date or circumstance in the future, for example when cancer spreads so as to disable the grantor, and the POA remains in effect until the grantor’s death.
A Power of Attorney for Care of a Minor Child is a document that temporarily assigns another person the right to make health care or legal decisions on behalf of a child who may be in their care. Many states limit the term of this Power of Attorney to six months, after which time guardianship must be sought if the parents cannot care for the child for any reason (disability or death).