Power of Attorney
A general power of attorney gives broad powers to a person or organization (known as an agent or attorney-in-fact) to act on your behalf. These powers include handling financial and business transactions, buying life insurance, settling claims, operating business interests, making gifts, and employing professional help.
General Durable Power of Attorney for Finances
General Durable Power of Attorney Definition A general durable power of attorney both authorizes someone to act in a wide range of legal and business matters and remains in effect even if you are incapacitated. The document is also known as a durable power of attorney for finances.
Limited Power of Attorney
A Limited power of attorney is one which is limited to a specific act or particular purpose. It is also referred to as special power of attorney. A limited power of attorney allows the Principal to give only specific powers to the agent. The limited power of attorney is usually used to allow the agent to handle specific matters when the principal is unavailable or unable to do so.
A medical directive is a legal document that contains instructions regarding a person’s health care decisions if they should become incapacitated. If a person becomes incapacitated, they may not be able to make medical decisions at that moment. Therefore, medical directive helps prepare the person for such situations by naming a “proxy” or representative who will make such decisions on behalf of the incapacitated person. Medical directives are also called other names, such as living wills, advance healthcare directive, or “power of attorney for healthcare”. The document provides a written record of the person’s intentions, which can help prevent legal disputes over health care issues.