Do you have a POA form? Do you need to get it notarized? Consumers might need to get a POA notarized to appoint an individual to act for them in case they cannot. Likewise, businesses might implement POAs as part of their business format.
No matter what the POA case your circumstance calls for you will want to get comfortable with these 4 types of power of attorney to guarantee you execute the right one.
1. General Power of Attorney
A general power of attorney is a broader type of power of attorney that imparts someone more of a general authority to deal with your affairs. The person you appoint to act for you, also called an agent, can handle a wide range of tasks, including selling or buying real estate or entering contracts.
2. Special or Limited Power of Attorney
If you are looking to slim down what your agent can do for you, you will want to decide on a special or limited power of attorney.
Prior to signing, getting a limited POA and taking it to a notary, you will want to be as detailed as you can as it is associated to what your agent can and can’t do on your behalf. If you are not sure of what is included in your special power of attorney, it’s a good idea to speak with your lawyer first.
3. Durable Power of Attorney
The type of power of attorney you decide on choosing will be effective throughout the dates you stipulate. Enduring or non-durable power of attorney concludes if you choose to cancel it if you have designated a termination date. But what happens when the person that enacts the POA becomes debilitated? Is the POA still retained?
In such a case, if you would like your power of attorney to be maintained even in the event you become mentally incapable to convey your decisions or desires, a durable power of attorney is probably your best bet. As an example, say you have a stroke and fall into a coma but desire your spouse to be allowed to make decisions for you, you may signify that you would like your POA to be durable. This bestows your spouse the capability to make decisions for you, regardless of you being in a coma.
4. Medical or Healthcare Power of Attorney
If you happen to become seriously ill, you have the right to choose the type of medical treatment you end up getting.
Medical or healthcare POA is a kind of power of attorney in which you enable a trusted agent the capacity to make your medical decisions if you cannot make them for yourself. If there is a circumstance where you cannot communicate your wishes, you will want a trust-worthy agent on your side to make decisions for you.
A lot of medical powers of attorney are durable because it takes into account that you’re not mentally able to convey your decisions.
In each case, you will want to speak with your lawyer when choosing your agent to make decisions for you. It is always a good idea to request that your lawyer to help you through each step on getting your power of attorney notarized and what is required to be included in the documents.
Sources:
- Lopez, Laura. “4 Types of Power of Attorney You May Need to Get Notarized.” Legally Notarize Your Documents Online. Anytime. Anywhere., https://www.notarize.com/blog/types-of-power-of-attorney.
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