POWER OF ATTORNEY
1. An instrument granting someone authority to act as agent or attorney
in-fact for the grantor. Also termed letter of attorney. 2. The authority
are drawn up by an attorney and must be enacted and signed by an
individual who is of sound mind. If someone is not mentally competent,
they cannot enact a power of attorney. A guardianship or conservatorship
case can be filed.
Durable Power of Attorney:
power of attorney that remains in effect during the grantors
incompetence. Such instruments commonly allow an agent to make healthcare
decisions for a patient who has become incompetent.
General Power of Attorney:
A power of attorney that
authorizes an agent to transact business for the principal.
Special Power of Attorney:
A power of attorney that limits
the agents authority to only a specified matter.
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