Power of Attorney Templates
Purchase one of our Power of Attorney templates – Indemnity and NDA Agreements – Zeelie Online
A power of attorney (POA) is a legal document that gives an individual, called the agent or attorney-in-fact, the authority to take action on behalf of someone else, called the principal.
A power of attorney (POA) is a legal document that lets one person make decisions for another person. The person making decisions is called the agent, and the person whose decisions are being made is called the principal.
A POA allows someone to make decisions and act on behalf of another person in legal, health, and financial matters.
- Managing your income, bank accounts, etc.
- Selling, or managing your property.
- Entering into contracts or settlements on your behalf.
- Planning your estate.
There are five types of POA’s:
- Durable Power of Attorney – enables the agent to act for the principal who is not mentally competent or physically able.
- General Power of Attorney – allows the agent to act in various situations without any or few limitations.
- Specific Power of Attorney – unlike general this limits the agent’s power to a specific powers.
- Springing Power of Attorney – becomes effective only upon the occurrence of a certain event chosen by the principal like an illness.
A general power of attorney ends in three situations. The first is when the person giving the power is unable to make decisions. The second is when the person cancels the power of attorney. The third is when the person dies.
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