Pub. Date: Feb 2011
A Limited Power of Attorney is used to appoint an agent to manage a specific element of the principal’s legal and financial affairs and, in some cases, for a specific time frame. The authority granted to the agent will only come to an end on the subsequent death or incapacity of the principal or when the principal lawfully revokes the agent’s authority.
A Durable General Power of Attorney for Finance and Property allows you to appoint an agent who will manage all your legal, financial and property affairs on your behalf. The agent’s authority will commence on the signing of the power of attorney or when you become incapacitated. This authority will come to an end when you revoke the agent’s authority or when you die. It will not be adversely affected by your incapacity.
If you fail to make a durable general power of attorney for finance and property, your family may be left helpless to lawfully deal with your assets if you become incapacitated. In that situation, they would need to petition the court to appoint a conservator or guardian on your behalf with lawful authority to manage your affairs. This may not be a family member.
This Durable General Power of Attorney for Finance and Property is a downloadable form. It comes complete with guidance instructions on how to fill in the form.
If you are not completely familiar with durable general powers of attorney for finance and property, we recommend that you purchase our legal kit entitled “Durable General Power of Attorney Kit”. This legal kit not only contains all the forms necessary for you to make a durable general power of attorney for finance and property but also includes a related notice of revocation of a power of attorney as well as detailed information on how powers of attorney work.