What are the various types of Powers of Attorney?
1. General/Limited. A General Power of Attorney attempts to cover all types of transactions which your Agent may have to handle during your incapacity. It may authorize your Agent to handle things which you think are not relevant, for example, access to a safe-deposit box which you do not have right now. The document needs to be all-inclusive to take into account issues which might arise five or more years down the road when you become incapacitated. The more detail, the better, in a document such as this. Occasionally, we prepare Limited Powers of Attorney which a client wants for a limited purpose (eg. to sell a house) or for a limited time period. The Limited Power of Attorney should really be in addition to, and not in lieu of, a General Power of Attorney. 2. Financial/Medical. Sometimes, attorneys draft documents called a “Medical Power of Attorney.” I don’t use this term because it can be confused with a General Power of Attorney designed to address legal and financial decision-m
