A Power of Attorney (POA) is one of the most important legal documents you can have. Understanding the different types and requirements can help you make informed decisions.
What is a Power of Attorney?
A POA is a legal document that gives someone (the "agent" or "attorney-in-fact") the authority to act on behalf of another person (the "principal") in specified matters.
Types of Power of Attorney
General Power of Attorney
Grants broad authority to handle various matters including financial transactions, real estate, and business affairs.
Limited/Special Power of Attorney
Grants authority for specific purposes only, such as selling a particular property or managing a specific account.
Durable Power of Attorney
Remains effective even if the principal becomes incapacitated. Essential for long-term planning.
Healthcare Power of Attorney
Allows the agent to make medical decisions on behalf of the principal if they become unable to do so.
Notarization Requirements
Most states require POA documents to be notarized. Notarization:
- Verifies the principal's identity
- Confirms the principal is signing voluntarily
- Adds legal weight to the document
- Helps prevent fraud
Important Considerations
- Choose an agent you trust completely
- Be specific about powers granted
- Consider naming a successor agent
- Review and update periodically
- Keep the original in a safe place
Need to have a Power of Attorney notarized? BLL Notary Services can help. Contact us to schedule an appointment.