what is the difference between a durable power of attorney and a general power of attorney?
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What's the difference between durable and general power of attorney? A general power of attorney ends the moment you become incapacitated. ... A durable power of attorney stays effective until the principle dies or until they act to revoke the power they've granted to their agent.
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The health care power of attorney A health care power of attorney, on the other hand, is similar to a durable power of attorney for finances in that it grants someone else decision-making power over your affairs.
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A general power of attorney is a legal document that can give your attorney authority over all or some of your finances and property. It allows your attorney to manage your finances and property on your behalf only while you are mentally capable of managing your own affairs.
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An ordinary power of attorney is only valid while you have the mental capacity to make your own decisions. If you want someone to be able to act on your behalf if there comes a time when you don't have the mental capacity to make your own decisions you should consider setting up a lasting power of attorney.
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You can give a person complete authority to make all decisions, or limit them significantly to make only specific decisions. ... If you want specificity, it is better to do that in your living will, which the person with a durable power of attorney cannot override.
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If you want someone to look after your affairs for a long period of time, you can give them a lasting power of attorney (LPA). An LPA is different from an ordinary power of attorney because: you can make an LPA which looks after your health and care decisions and one to look after your property and financial affairs.
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Durable powers of attorney help you plan for medical emergencies and declines in mental functioning and can ensure that your finances are taken care of. Having these documents in place helps eliminate confusion and uncertainty when family members have to make tough medical decisions.
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A Durable Power of Attorney for Health Care is a form you use to name a person (called an agent) who will make medical decisions for you if you become unable to do so. ... By law, the Durable Power of Attorney for Health Care does not need to be notarized; however, it is strongly recommended.
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A durable power of attorney simply means that the document stays in effect if you become incapacitated and unable to handle matters on your own. (Ordinary, or "nondurable," powers of attorney automatically end if the person who makes them loses mental capacity.)
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A general power of attorney grants the agent the legal right to make all financial and legal decisions on behalf of the principal. ... A special power of attorney may need to be notarized to have legal authority.
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A Durable Power of Attorney is one of the most important documents anyone can have in place in the event they are unable to care for themselves. A Durable Power of Attorney acts as a permission slip, giving authority to a third party to do things on behalf of someone else who cannot do it for themselves.
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The document must state when the powers will come into effect; what will trigger the document, and then it must be signed in the presence of two witnesses. Technically, this would meet the legal requirements of the Durable General Financial Power of Attorney. ... You can prepare a Power of Attorney with a lawyer.
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A power of attorney is a private way to decide who will have the legal authority to carry out your wishes if you can no longer speak or act for yourself. It is less costly than a guardianship, which is a public proceeding and the person appointed as your guardian may not be the person you would have chosen.
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This general power of attorney might be useful if the principal is out of the country or otherwise indisposed, but the durable power of attorney is needed if the principal is no longer capable of making crucial decisions about health care on his or her own.
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About the Power of Attorney. A Durable Power of Attorney may be the most important of all legal documents. ... It can be used to give another person the authority to make health care decisions, do financial transactions, or sign legal documents that the Principal cannot do for one reason or another.
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There are two major types of powers of attorney: ordinary and enduring. An ordinary power of attorney is only valid as long as the donor is capable of acting for him or herself. If the donor dies or becomes mentally incompetent, the power of attorney is invalidated.
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A power of attorney ends when a person becomes incapacitated unless the power of attorney is designated as a durable power of attorney. In the latter case, the attorney-in-fact can retains the power of attorney and can make decisions for the principal, including matters of finance and health care.