A power of attorney is a legal document that grants authority to a specific person, called an agent, to act in place of the person who grants that authority. It’s called a “power of attorney” because the person granting authority (the principal) has the power to give a third party (the agent) the power to act on his or her behalf.
It can very easy for you to understand what this type of document is like when you have a look at a free power of attorney form at any of the websites that offer legal forms free for download and customization. Read and find out about the importance of power of attorneys and the types of POA documents that you can use today.
What is the Importance of a Power of Attorney?
A Power of Attorney is a document which makes some one act on your behalf. In the case of any legal action or business related issues, you can assign your power of attorney to another person and let him carry out the work for you.
When you lose your mental capacity, your lawyer can do a lot for you. But what if you can’t hire a lawyer? What if you haven’t got enough funds to hire a Lawyer? In such cases, a power of attorney becomes a necessity.
Every state has its own laws relating to powers of attorney, but all must follow the guidelines set forth by the Uniform Power of Attorney Act (UPOA). State law will dictate what requirements must be met for a power of attorney to be considered legally valid.
Types of Power of Attorneys
Power of attorney is a legal document that allows someone to act on behalf of another person. When you are looking for a power of attorney form in Idaho, you have to keep in mind that you are looking at the proper type of POA for your requirements.
There are two types of power of attorney: general and special. General power of attorney gives the agent authority to act on behalf of the principal in any situation. Special power of attorney is used to give specific powers to a particular individual.
General Power of Attorney
A General Power of Attorney is usually given to a spouse or child. This type of power of attorney is called “general” because it covers a broad range of situations. A general power of attorney allows the agent to take actions on behalf of the principal, including signing contracts, paying bills, buying property, making investments, filing taxes, and even hiring employees.
Special Power Of Attorney
This type of power of attorney only applies to certain circumstances. For example, if you want to appoint a friend or family member to manage your finances, this would be considered a special power of attorney.
In any case, you should always choose the “Attorney in fact” or Agent of your power of attorney with a lot of care and after being fully assured that the person that you are appointing is completely reliable and would always put your best interests before his or her own.