Different Types of Power of Attorney (POA)

Although medical and financial are the most common powers of attorney (POAs), there are several subtypes between them, as well as many other kinds of POAs.

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Powers of Attorney

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Terminology

A POA is a document, not an individual, even though it is common to say, "I'm their POA."

The person accepting a POA is referred to as the "attorney-in-fact" or simply, "agent".

The person granting a POA (i.e., your loved one) is referred to as the "principal".

Durability

The durability of a POA is not assumed or implied (as nothing in law ever is!), it is specifically written into the document. A POA is either durable or non-durable.

*Incapacitated = mentally incompetent, unconscious, or otherwise unable to make decisions and communicate desires.

Timing

Termination

All POAs, regardless of type, terminate upon the death of the principal.

Note that a POA can also be terminated by having it revoked, having it ruled invalid, finding the agent grossly negligent, or if the agent is deemed unable to fulfill the duties assigned in the document. These are all legal actions that must be filed with and decided by a court of law.

The agent, once appointed, is obligated to perform the duties as outlined in the POA and must continue to serve in the principal's best interests until legally released from the POA. The agent cannot simply decide to forfeit their role and responsibility.

POA Types

MEDICAL POA. Also known as a Healthcare POA, healthcare proxy, healthcare surrogate, or healthcare representative. Designates someone to make medical decisions on an individual's behalf if they cannot do so themselves. The appointed agent, often a trusted family member or friend, is authorized to make healthcare choices, including treatment options, surgeries, and end-of-life decisions, ensuring that the individual's medical preferences are followed when they cannot communicate or decide for themselves. A Medical POA is a crucial component of advance care planning, allowing individuals to have a trusted advocate for their healthcare needs.

FINANCIAL:

REAL ESTATE POA. Grants authority to an appointed agent to act on behalf of the property owner in real estate transactions. This includes buying, selling, leasing, managing, or otherwise dealing with real estate. The document outlines the specific powers granted to the agent and is often used when the property owner is unable to handle these transactions personally due to absence, illness, or other reasons. The real estate power of attorney provides a legal mechanism for someone to represent the property owner in real estate-related matters.

TAX POA. Grants authority to an appointed agent, often referred to as the tax attorney or tax representative, to act on behalf of the principal (or business) in matters related to taxes. This may include filing tax returns, responding to tax inquiries, negotiating with tax authorities, and generally managing tax-related affairs. The document specifies the powers granted to the appointed agent and is useful when the taxpayer is unable to handle these matters personally or prefers to delegate tax-related responsibilities to a trusted representative.

VEHICLE POA. Grants authority to an appointed agent to act on behalf of the vehicle owner in specific matters related to the vehicle. This may include tasks such as transferring ownership, registering or titling the vehicle, obtaining or transferring license plates, and handling other administrative matters related to the vehicle. The document outlines the specific powers granted to the agent and is useful when the vehicle owner is unable to handle these tasks personally due to absence or other reasons. The vehicle power of attorney provides a legal means for someone else to represent the vehicle owner in these specific matters.

Revoking a POA

A revocation of power of attorney is a legal document used to formally cancel or revoke the powers granted in a previously executed POA. This document is typically created by the principal. The revocation is a clear and detailed statement expressing the intent to terminate the authority given to the agent.

Creating and properly executing a POA revocation ensures that there is a formal and legally recognized record of the termination of the agent's authority. This document is important for maintaining clarity and avoiding any confusion about the status of the powers previously granted.

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RESOURCES

AgingCare

American Bar Association

Corporate Finance Institute (CFI)

FREEWILL

LegalZoom

Open AI - ChatGPT

No content in this app, regardless of date, should ever be used as a substitute for any direct legal advice you receive from your lawyer or other qualified legal professionals.

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