Four different types of power of attorney are available in California and can be determined based on your individual needs and circumstances. The four types of power of attorney are:
- General Power of Attorney
- Durable Power of Attorney
- Special or Limited Power of Attorney
- Springing Power of Attorney
If you, the principal, are considering the option of designating a power of attorney to act as an agent on your behalf and need more information, contact the law offices of Cava and Faulkner, and ask to schedule a free consultation.
How is a General Power of Attorney Different Than a Durable Power of Attorney?
A General Power of Attorney possesses all of the legal authority that you do. When you appoint a General Power of Attorney to act on your behalf, you give them legal authority to sign documents and pay bills or make other financial decisions in your place.
A Durable Power of Attorney differs from a General Power of Attorney in that if you become incapacitated, the General Power of Attorney is no longer in effect. However, a Durable Power of Attorney allows the agent to make decisions on your behalf even when you are unable to do so. If you have concerns about being able to make decisions and are afraid of being incapacitated, this is a good option for you to consider.
How Does a Special or Limited Power of Attorney Work?
A Special or Limited Power of Attorney is appointed by you with the idea that the agent will only be able to make decisions for you for a specifically designated time or purpose. For example, if you are out of town on business but need to have legal documents signed, a Special or Designated Power of Attorney can complete the transaction on your behalf. After the specified transaction is completed, all legal authority to act on your behalf will be gone. This type of power of attorney does not give your agent power to make financial decisions for you other than what you have previously stipulated.
When Does Springing Power of Attorney Go Into Effect?
A Springing Power of Attorney only goes into effect after you have become incapacitated. It greatly differs from a Durable Power of Attorney that can be set in place before you become unable to make decisions for yourself. This is an excellent choice if you feel that you could potentially become incapacitated in the distant future but do not want any individual to have the ability to make decisions for you in the present.
How Can I Find Out More About the Different Types of Power of Attorney?
If you would like more information about which type of power of attorney may be right for your individual circumstances, please feel free to contact the law offices of Cava and Faulkner by calling (979) 596-4088. We will be happy to schedule a free consultation so that we can answer any questions or concerns that you may have.