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What Are The Different Types Of Power Of Attorney Forms?

By Author: Carl Glendon
Total Articles: 106

The term Power of Attorney (POA) refers to a legally binding document that can authorize an individual to act for some other person. The one who grants the authority is referred to as the donor, granter or principal, whereas the one who is appointed to act is known as attorney, attorney-in-fact or agent in some countries. You can find various kinds of free power of attorney form documents.

Financial Power of Attorney

This kind of document is used to provide agents with the authority to take financial decisions for the grantor. A Financial Power of Attorney usually offers the chance to an agent for bill payment and investment managements for him. The agent, in lots of situations, may also collect benefits issued by the government, operating the business of the drafter, claiming the inheritance property, managing retirement accounts etc. The powers that are granted with this document can vary, although based on the jurisdiction where it is prepared.

Medical POA

A Medical Power of Attorney is also referred to as a durable power of attorney for health care or health care power of attorney. This legally binding document authorizes an attorney-in-fact, agent or surrogate or any individual who is trusted, to take medical decisions on the principal’s behalf. The attorney-in-fact gets the authority if a doctor determines that the principal is incapable of taking these decisions or not capable of conveying his or her wishes - in case the person is in coma.

Military Power of Attorney

This kind of sample power of attorney form authorizes a person to act as the agent for an individual who serves as a U.S armed forces member. The agent authorized by the Military Power of Attorney document takes decisions that are legally binding on the grantor’s behalf, and is referred to as an attorney-in-fact. Attorney-in-facts do not have to be a real attorney but may be any reliable individual. A Military POA authorizes an attorney-in-fact to operate according to the wishes of grantors in different matters like registering vehicles, transferring property, executing contracts, cashing paychecks or some other act that the document authorizes.

Author Resource:-

Carl writes often about legal drafting, rental lease agreements, power of attorney form sand help the people in such needs. Please visit this site to get a sample Pennsylvania power of attorney form and power of attorney form in Missouri.

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