Power of Attorney (Multiple Types)

A power of attorney is an estate planning document used to appoint another individual to manage your affairs. There are five different types of power of attorney:

Durable

Effective immediately after signing.

Appointed individual (agent), acts on your behalf in the event you become incapacitated.

Is voided immediately after death.

Medical

Effective immediately after signing, but can only be used if you are declared mentally incompetent by a physician.

Also known as an Advance Directive.

Allows you to name a health care agent.

Allows the agent to make medical decisions on your behalf.

General

The agent in this case will be given a broad ability to act on your behalf.

Includes anything from finances, business, real estate, and any other legal decisions.

Limited

Give the agent specific abilities to act on your behalf.

You can grant several limited power of attorneys to different people; all being allotted specific powers.

Springing

Another word for conditional, meaning it only goes into effect under specific circumstances

For example, certain medical emergencies, military deployment, etc.