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A general power of attorney allows the agent to make a wide range of decisions. This is your best option if you want to maximize the person's freedom to handle your assets and manage your care.
What Are the Disadvantages of a Power of Attorney?A Power of Attorney Could Leave You Vulnerable to Abuse.If You Make Mistakes In Its Creation, Your Power Of Attorney Won't Grant the Expected Authority.A Power Of Attorney Doesn't Address What Happens to Assets After Your Death.More items...?
A general power of attorney allows the agent to make a wide range of decisions. This is your best option if you want to maximize the person's freedom to handle your assets and manage your care. A limited power of attorney restricts the agent's power to particular assets.
The 4 types of power of attorney are General Power of Attorney, Durable Power of Attorney, Special or Limited Power of Attorney and Springing Durable Power of Attorney.
These certificates are valid for 30 days. As per a recent order of the inspector general of registration, the new rules are applicable to all POAs registered from February 4. By law, POA is not valid once the principal dies.