A power of attorney, or POA, is a legal document that gives one person the authority to act on behalf of another. If you’re ever unable to communicate your wishes due to an injury or illness, for example, a POA can enable a person of your choice (referred to as the agent) to make decisions for you. Depending on your requirements, different types of POAs can be drawn up by a local attorney. The guide below outlines three of the most common.

3 Types of Power of Attorney

1. General

A general power of attorney grants an agent broad authority to act on your behalf regarding your financial, business, real estate, and legal dealings. Because it essentially gives the agent the ability to manage all aspects of your finances, it’s typically used only for short and specific periods. If you decide to travel abroad, you might have your local attorney create a POA to manage your affairs while you are away.

The terms of a general POA automatically expire if you become incapacitated or die, however. To extend an agent’s power to remain in effect through these scenarios, you’ll need to enact what’s referred to as a durable power of attorney.

2. Limited

Also referred to as a special power of attorney, this type of arrangement grants your agent limited power. They are often used when a property buyer wants their local attorney to attend a closing for them, for instance. They can also be drawn up to give business partners the authority to make decisions for one another or to give friends or loved ones the authority to care for minor children for a specific time.

3. Medical

A medical power of attorney is an essential component of estate planning. It gives an agent authority to make medical decisions on your behalf should you be unable to make them yourself due to serious illness or injury. Often, medical POAs are accompanied by a living will, which is a document stating your wishes regarding matters like organ donation and end-of-life care.

If you need a local attorney to draft a power of attorney, contact Reagan, Melton, & Delaney LLP. For more than 15 years, this firm has been providing expert legal services to clients throughout east and southeast Nebraska. Call (402) 476-6585 to contact their Lincoln office or (402) 932-9494 to get in touch with their Bellevue office. You can also visit their website to learn more about their practice areas.